Here’s some interesting time symmetry that I noticed while looking at the very long-term charts of the US markets. This is a 20-year chart of the $OEX (S&P 100 Index)*. I decided to use the $OEX vs. the $SPX on this chart mainly because at the end of the 2000-2002 bear market, the $SPX managed to eek out a marginal new low in Mid Oct 2002 following the Mid-July reaction low while the $OEX bottomed on that July low, ending the bear market and kicking off the 2002-2007 bull market. I drew a horizontal line from the beginning of the steep bull run that kicked off in Dec ’94, which defined the most powerful leg of the ’90-’07 secular bull market. That final 5.25 year run was essentially it’s own cyclical bull market that kicked off following a yearlong deer market. The line terminates at the end of that bull market in March 2000. I then copied two exact replicas of that line (which would be identical in time, of course) and placed those at the beginning of the ’02-’07 bull market and the ’09-current bull market.
Interesting to see that not only are these three bull markets defined by clear uptrend lines but the previous two were essentially identical in duration. If history were to repeat itself, this bull market would have about 5 more weeks before printing the final top. I will say that is not