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Bespoke Investment Group points out that the Dow Jones industrial average is awfully close to its April high of 11,205. In fact, the 30-member index actually broke above that level briefly on Tuesday, hitting an intraday high of 11,219, but has since fallen back a little.

Of course, the Dow may not carry the same weight as the S&P 500 - a broader index that is more reflective of market trends. The S&P 500 moved as high as 1196 on Tuesday, but still has some way to go before hitting its April high of 1217.

As you might recall, April marked the highest point for major indexes after they began to recover from the bear-market meltdown of 2008 and 2009. Then, with increasing evidence of an economic slowdown and stubbornly high unemployment, major indexes corrected, with the S&P 500 in particular sagging a total of 16 per cent by the start of July.

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About the Author
Investing Reporter

David Berman has been writing about business and investing since 1995. He has written for a number of magazines, including Canadian Business and MoneySense. He worked at the Financial Post as an investing writer and daily columnist before moving to the Globe and Mail in 2008. More

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