Market Briefing: S&P 0 Bull & Bear Markets & Corrections December 29, 2017 Dr. Edward Yardeni 516-972-7683 eyardeni@ Joe Abbott 732-497-5306 jabbott@ Mali Quintana 4-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents 1-7 December 29, 2017 / Market Briefing: S&P 0 www.
3000 27 20 Figure 1. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 2008-2017 (ratio scale) 12/29 3000 27 20 22 22 2000 2000 17 17 10 10 12 12 0 200-day moving average 0 7 7 0-56.8% (517) -16.0% () -.4% (157) -9.8% (28) -9.9% () -7.7% (62) -5.8% (34) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018-5.8% () -7.4% (28) -12.4% (96) -13.3% () Note: Corrections are declines of 10% or more, while minor ones are 5%-10% (all in blue shades). Bear markets are declines of 20% or more (in red shades). Number of calendar days Source: Standard & Poor s. 0 10 Figure 2. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 2000-2009* 10 10-49.1% (929) -14.7% (104) -8.2% (183) -56.8% (517) 10 1400 1400 1200 1200 0 0 0 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 0 Page 1 / December 29, 2017 / Market Briefing: S&P 0 www.
10 10 1400 1300 1200 0 0 0 0 0 Figure 3. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 87-2000* 10 10 1400 1300 1200 0 0 0 0 0 0 0-33.5% (101) -10.2% (28) -.9% (87) -8.9% (61) -9.6% (52) -10.8% -.3% (20) (45) -12.1% (91) -49.1% (929) 0 0 400 400 300 300 200 87 88 89 91 92 93 94 95 96 97 98 99 2000 200 3 330 310 2 2 2 230 Figure 4. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: -87* 3 330 310 2 2 2 230 210 210 1-17.1% (43) -27.1% (622) -14.4% (288) -33.5% (101) 1 1 1 1 1 130 130 81 82 83 84 85 86 87 Page 2 / December 29, 2017 / Market Briefing: S&P 0 www.
1 140 Figure 5. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 73-* -27.1% (622) 1 140 130-48.2% (630) -13.6% (29) -14.1% (63) -.4% (531) -13.6% (63) -10.2% (33) -17.1% (43) 130 120 120 73 74 75 76 77 78 79 125 115 Figure 6. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 68-73* 125 115 105 105 95 95 85 85 75-10.1% (162) -36.1% (543) -10.7% (103) -11.0% (76) -48.2% (630) 75 65 68 69 71 72 73 65 Page 3 / December 29, 2017 / Market Briefing: S&P 0 www.
Figure 7. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 66-68* -22.2% (240) -10.1% (162) -36.1% (543) I II III IV I II III IV I II III IV 66 67 68 Figure 8. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 62-66* -26.4% (174) -10.5% (62) -9.6% (46) -22.2% (240) 62 63 64 65 66 Page 4 / December 29, 2017 / Market Briefing: S&P 0 www.
85 Figure 9. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 57-62* 85 75-14.8% (4) -20.7% (99) -13.6% (422) -26.4% (174) -10.5% (62) 75 65 65 55 55 45 45 40 40 35 57 58 59 61 62 35 Figure 10. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 48-57* -14.1% (205) -20.6% (363) -14.0% (35) -14.8% (252) -10.6% (18) -14.8% (4) -20.7% (99) 40 40 30 30 20 20 10 48 49 51 52 53 54 55 56 57 10 Page 5 / December 29, 2017 / Market Briefing: S&P 0 www.
22 21 20 Figure 11. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 46-48* -10.1% (21) -26.6% (133) -14.7% (97) -14.1% (205) -20.6% (363) 22 21 20 18 18 17 17 16 16 15 15 14 14 13 I II III IV I II III IV I II III IV 46 47 48 13 25 23 Figure 12. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 37-46* 25 23 21-54.5% (3) -26.2% (1) -31.9% (229) -34.5% (535) -13.1% (138) -26.6% (133) 21 17 17 15 15 13 13 11 11 9 9 7 37 38 39 40 41 42 43 44 45 46 7 Page 6 / December 29, 2017 / Market Briefing: S&P 0 www.
54 49 44 39 34 Figure 13. S&P 0 BULL & BEAR MARKETS & CORRECTIONS: 29-37* -44.7% (67) -83.0% (783) -40.6% (173) -29.8% (95) -31.8% (401) -12.8% (23) -54.5% (3) 54 49 44 39 34 29 29 24 24 14 14 9 9 4 29 30 31 32 33 34 35 36 37 4 Page 7 / December 29, 2017 / Market Briefing: S&P 0 www.
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