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Santoli: Deja vu rally could prove sturdier this time

A trader works on the floor of the New York Stock Exchange.
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A trader works on the floor of the New York Stock Exchange.

The current ferocious market rebound might seem to have come out of nowhere, but in a way it came straight from last fall: The advance looks so similar to the rally that kicked off the fourth quarter of 2015 that the crucial question now is whether this run will fizzle in matching fashion.

First, the striking resemblance, then the subtle differences.

The surge that began Feb. 11 has carried the S&P 500 12 percent higher in just over five weeks — the exact rise in the five-week sprint from Sept. 29 to Nov. 3. In each case, the rally began after a second panicky trip to a multiyear low within a month's time (August and September, then January and February).

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