Stocks climbed the proverbial “wall of worry” last week, with the S&P 500 Index climbing 2.2%. Everyone is waiting for the big pullback to happen. Funny thing about the market - it doesn’t do what we expect it to do. See Mebane Faber’s blog: “Sitting, Waiting.”

Despite the 54% rise in the S&P 500 Index since its March 2009 lows, the index still needs to rise another 53.6% just to get back to the lofty, pre-crash levels of October 2007. What are the chances of that happening?

This entry was posted on Saturday, August 22nd, 2009 at 10:27 am and is filed under Weekly Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.