![F1](https://mikesmoneytalks.s3.us-west-2.amazonaws.com/wp-content/uploads/2013/12/01011114/F1.png)
Click on image or HERE for larger version:
Source: Monthly Chart Portfolio, Merrill Lynch Market Analysis, November 4, 2011
I mentioned yesterday I had a long term chart of secular bear markets that was informative; the above chart (via Merrill Lynch) is what I was referring to.
There are three issues worth noting here plus one important caveat: