by Calculated Risk on 5/04/2009 06:11:00 PM

By popular demand ...

Click on graph for larger image in new window.

The first graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears".

The S&P 500 is up 34% from the bottom, and still off 42% from the peak.

Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.

The second graph shows the S&P 500 since 1990.

The dashed line is the closing price today.

This puts the recent rally into perspective.