It has been over three years now since the stock market peaked on November 2nd 2007. What is amazing though is the fact that in just over three years we have seen the 2nd largest sell off since the Great Depression nearly fully recover.
Think about that for a second. All the losses wiped out by the 2008 crash have nearly been replenished. Unfortunately the economy is still in shambles as the unemployment rate still sits over 9%, the real estate market has returned decades worth of growth, etc. Regardless, this is how the indices stand currently:
* NASDAQ Composite: 2007 peak (11/2/07) close 2810.38. Today’s close 2797.05 (-.47%).
* S&P 500: 2007 peak (10/12/07) close 1561.80. Today’s close 1324.57 (-15.19%).
* Russell 2000: 2007 peak (7/13/07) close 855.77. Today’s close 808.32 (-5.54%).
Obviously the S&P 500 has trailed the comeback of the NASDAQ and Russell due to its focus on financial stocks (which many are still in the pits relative to their 2007 prices).
The NASDAQ is less than 1% away from closing above its 2007 peak price. Staggering… let’s take a look at a chart courtesy of MarketSmith (read my 2011 tools of the trade).
[attach]263136[/attach]
Peak to trough the NASDAQ lost 55.77% between November 2007 and March 2009. It has rallied 121.02% since then.
