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Keep Your Bull In Check!

|Includes: SPDR S&P 500 Trust ETF (SPY)

The above chart (click to invoke interactive version) shows the S&P 500 index averaged monthly and inflation adjusted using CPI-U displayed along with the year-over-year percent change and the percent change compared to the peak level seen in 2000.

Keep in mind that this data is NOT including dividends so the trend only reflects changes in the index.

Even though the latest run is spectacular by all accounts one needs to keep some perspective... in real terms we are still over 33% below the level seen in the year 2000.We may be in the midst of a trend that will break this decades long secular bear dynamic but then again... we may not!