Chart of the Day - Tuesday, October 8, 2024

🏆  Today's Chart of the Day was shared by Ryan Detrick (@RyanDetrick). 
 

• The S&P 500 bottomed almost two years ago on October 12th, 2022. The 2022 bear market wasn't as deep as the Covid decline (-25.4% vs. -33.9%), but it was the longest bear market since the Great Financial Crisis.
   
• The current bull market is up +61% in two years. Ryan points out that the average bull market lasts twice as long and gains three times as much. Of the 12 bull markets since 1950, the average gained +180% over 5½ years. 
   
• Theoretically, an 'average' bull market would mean the S&P 500 could reach 10,000 before topping in 2027 or 2028. Although, that's a very rough extrapolation. 
   

Takeaway: In terms of duration, we are approximately halfway through an 'average' bull market and a third of the way through in terms of magnitude.