One Year Later the Easy Part is Over, Now the Fun Begins

On 3/23/2009, I sent out a memo about the S&P 500 being back over 800. In retrospect, it was up 22.6% over the 10 trading days since the 3/9/09 low; the next 239 trading days produced a 36.5% gain. So, with the one-year anniversary of the Bull market coming up Tuesday (technically the opening of Wednesday, March 10), below is a status report. I’ve added a few text lines to highlight, but mostly its data (file attached) for your use.

While 97.6% of the S&P 500 are up over the year, only 24.1% are up from the October 2007 high. Turning things around and getting them to work again was key. However, the driving forces over the last year - fewer layoffs, a reversal of the credit crunch, and fewer massive write-offs, have been replaced by the need for stable jobs and growth, which may prove a bit slower to develop. Hopefully things will get better, but don’t count on them getting easier.

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