CHART OF THE DAY: Shades Of 1929

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We’ve put together an amazing, fool-making rally since the market hit its lows in early March. Of course, before you break out the champagne, remember that a strong bull run can happen during a long-term decline.

We have eclipsed most such precedents.  But we did have one big bull run of nearly the exact same length and magnitude between November, 1929 and April, 1930.  And you know what happened after that.

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