Next week marks the third anniversary of the bear market low (March 2009). The S&P 500 posted another broad-based gain, adding 4.06% in February, for an 8.59% gain YTD. It is the index’s best start since realizing 17.36% in January & February 1987. The S&P Small Cap 600 underperformed the mid and large-cap indices in February, but over the trailing ten-year period, the S&P Small Cap 600 has returned more than twice as much as the S&P 500 (7.68% versus 3.52%).

The S&P 500 gained 4.48% in January with dividends added, its best opening month since 1997 when the index increased 6.13% and went on to return  31.01% for the year.