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Fundranker Blog—March/April Rally

March/April Rally

The current market rally, March 10, 2009, through May 8, 2009, now has outlasted the previous bear market rally, November 21, 2008, through January 6, 2009. The previous rally lasted 30 sessions, while the current rally has lasted 43 sessions. Fundranker’s Top Eight Model Portfolio, the S&P 500 (as measured by Fidelity’s Spartan 500 Index Fund), and the Nasdaq Composite (as measured by Fidelity’s Nasdaq Composite Index Fund) all reached new highs for this rally during the week that ended May 8 and have gained 25.44%, 37.83%, and 37.12%, respectively, since their recent March 9 lows.

For nine weeks in a row, the market has seen new rally highs, with the exception of the S&P 500's loss of just 0.35% for the week ended April 24. As of May 8, the Nasdaq Composite is nearly 6% higher than its January 6 high, the S&P 500 is a fraction of a percent above its January 6 high, and Fundranker is within 5% of its January 6 high.

Is this rally the beginning of a new bull market? It hung on during the weeks ended April 24 and May 1 during a deluge of companies reporting their latest earnings, a true test of its staying power. See our Spring Rally post for newer information on this rally. See our New Market Rally post for earlier information on this rally.

Posted 5/10/09 11:10am ET in Fundranker, Market