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Business Cycles

The chart given below gives a good perspective of modern business cycles.  The bar mekko chart illustrates both the lengh and breadth of business cycles.  A log scale S&P 500 is appended to provide perspective.  The chart divides each cycle into three and 1) a bear market (decline of 20% or more) 2) A recovery phase (which lasts until the S&P 500 and 3) a bull market - which ends when the next bear market begins. 

(click on image below to open full screen).

Market Cycles