Click on graph for larger image in new window.The first graph shows the S&P 500 since 1990.
The dashed line is the closing price today.
The S&P 500 is up almost 40% from the bottom (267 points), and still off almost 40% from the peak (622 points below the max).
This puts the recent rally into perspective.
The second graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears". Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.