NYSE Composite Index vs. S&P 500 ($NYA/$SPX, $INDU, $SPX)

The NYSE Composite Index still needs to rally 14% to reach its 2007 high. It's interesting because the Dow broke above its 2007 high a few weeks ago and the S&P 500 is essentially testing it as we speak (7 points away from 1,576). So does this mean that the S&P and Dow have further to run from here as the NYSE Composite catches up? Or is the NYSE Composite Index not confirming these moves? For a different perspective, I put up a chart of the NYSE Composite/S&P 500 ratio during the same time period. It's interesting that the NYSE Composite Index outperformed the S&P 500 during the previous bull market (2000-2008), but has underperformed the S&P since early 2008 (during the previous bear market and the current bull market). Thoughts?


NYSE Composite Index vs. S&P 500 and Dow Jones Industrial Average

Source: StockCharts.com

NYSE Composite Index/S&P 500 ($NYA/$SPX)

Source: StockCharts.com

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