Dow Correction Officially Over

Hickey and Walters (Bespoke) submit: The bull market for the S&P 500 that started in March 2009 has been on hold for nearly ten months now. It has now been 294 days since the index made its bull market closing high of 1,363.61 on April 29th, 2009.

Hickey and Walters (Bespoke) submit: Below is an updated look at our trading range charts for the S&P 500 and its ten sectors. For each chart, the blue shading represents the sector's "normal" trading range, which is between one standard deviation above and below the 50-day moving average (white line).

Hickey and Walters (Bespoke) submit:

Hickey and Walters (Bespoke) submit: The DJIA is currently down more than 17% from its all-time high of 14,198.10 back in October 2007.

Hickey and Walters (Bespoke) submit: Back in September when the S&P 500 was flat for the year, India's stock market was up nearly 20%, which made it one of the best performing countries in 2010. As the S&P 500 has rallied over the past couple of months, however, India has been in a downtrend.

Hickey and Walters (Bespoke) submit: Today's 100+ point gain in the Dow has it just 1.04% away from its bull market intraday high of 11,258.01 reached on April 26th. That's the next number to watch as a resistance/breakout level.click to enlarge

Hickey and Walters (Bespoke) submit: At its current level, the S&P 500 Financials sector has entered a new bear market (a 20% decline that was preceded by a rally of at least 20%). Below we highlight performance over various time periods for the S&P 500 and its ten sectors.

Hickey and Walters (Bespoke) submit: Below we highlight the performance (YTD and since 4/23) of the major equity indices for 80 countries around the world in local currencies. The list is sorted by performance since April 23rd, when US markets hit their bull market peaks.