Key points from the report:
- An 18% rally on the DJIA since December lows with no 5% pullback is above the 14% average (11% median) leg in a bull market dating back to 1900. One leg is a 5%+ move in either direction.
- A leg of a 15% gain immediately following a 15% loss is very rare, occurring only four times prior to the current leg. A ~6% pullback is typical following these v-shaped recoveries.
