Chart of the day

The S&P 500 continues to work its way higher and yesterday closed at new rally highs and is currently very near a 5-year high. So how does the current S&P 500 rally rank? To answer this question and to provide some perspective, all major S&P 500 rallies of the last 74 years are plotted on today's chart. With the S&P 500 up 68.8% as of yesterday, the current rally would be classified as long in duration and modest in magnitude.

Notes:
- The S&P 500 was not adjusted for inflation or dividends.
- There are 252 trading days in a year (100 trading days equal about 4.8 calendar months).
- A major stock market rally has been defined as a 30% or greater increase in the S&P 500 (following a major correction).