Market Summary

As can be seen from the table below, which is sorted by Year To Date, the only indexes in this list that are in the green are oil, gas, and the Russell 2000 index. What is interesting about the Russell is that it is the riskier of the major market indexes and can be a proxy for risk appetite. The more conservative index, the S&P500, is down 13-14% for the year. And gold is flat. And what was the darlings last year, the international and emerging market indexes, are the worst now down over 20%. Click on table to enlarge.
Also note that while this may not be the bottom of this bear market we did call a bottom as can be seen from the chart below. How much rally is left remains to be seen. 1140 in the $SPX index is the same as 114 in the SPY ETF. Just to give some perspective, the rally off the lows to the close as seen in the last 4 bars of the chart must be in the billions of dollars. Click on chart to enlarge.