On quaterlies we haven't even mean reverted. Comparisons to the 09 and 74 bottoms are completely misguided.

You CANNOT compare %'s directly because you MUST adjust for vol. When you do, you will see just how further the rabbit hole goes.

$SPX $SPY $ES_F #OG_equities_202004 https://t.co/zzBLuPYjv6