When Was Last Rally Like This?

Every day, traders write to me saying, have you ever seen anything like this rally, Bob? When was the last time you saw this?

Well, now we know, thanks to the number crunchers at Bespoke: it's pretty rare. Since September 1, the S&P 500 is up 27 percent.

Bespoke found 5 periods where the S&P charts matched nearly perfectly with the action of the last six months: 1935, 1949, 1953, 1958, and 1995.

What they found: in each of those five cases, the S&P 500 saw additional gains over the following 12 months with an average gain of 22.1%!

Thank you, Paul Hickey at Bespoke.

Speaking of big rallies ... energy stocks go parabolic .. .forget the NASDAQ ... energy stocks are on a tear. (YTD)

Marathon up 34%—35 bil

Tesoro up 24%—refiners

El Paso up 29%—nat gas

EOG up 18%—natural gas

ExxonMobil up 15%—big oil

Marathonhas a market cap of $35 billion, for heaven's sake!

Here's what's moving them:

1) Crude fundamentals, with all the issues in the Middle East

2) the WTI-Brent dislocation, which benefits some companies

3) Upward revisions to global growth forecasts

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