Chart of the Day - Tuesday, September 24th, 2019

Today's Chart of the Day was shared on Twitter by Michael Batnick (@michaelbatnick). The chart shows all the drawdowns in the Russell 2000 index since 2009. A lot of people suggest that this bull market is over a decade old and getting long in the tooth. Michael pokes a hole in that argument by showing that the Russell 2000 has experienced four drawdowns of 20% or more since 2009. Some are even closer to 30%! Keep in mind, a drawdown of 20% is literally the definition of a bear market. The debate about the age of the current bull market is kind of silly because it's not tremendously important. However, to suggest that we've been in a raging bull market for the past decade is just plain wrong.