https://historyofmarket.com/ 2026-04-21 daily 1.0 https://historyofmarket.com/og/cover.png History of Market — The Chronicle of the U.S. Stock Market Editorial masthead and century-scale S&P 500 line chart. https://historyofmarket.com/llms.txt 2026-04-21 weekly 0.6 https://historyofmarket.com/llms-full.txt 2026-04-21 weekly 0.6 https://historyofmarket.com/ai.txt 2026-04-21 monthly 0.5 https://historyofmarket.com/api/_manifest.json 2026-04-21 daily 0.5 https://historyofmarket.com/sp500/ 2026-04-21 daily 0.9 https://historyofmarket.com/nasdaq/ 2026-04-21 daily 0.9 https://historyofmarket.com/sp500/annual/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/annual.png Ninety-Nine Annual Verdicts 73 positive years, 26 negative, since 1928. https://historyofmarket.com/sp500/annual-dist/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/annual-dist.png What Annual Returns Actually Look Like Average 11.8%; only 7 years landed within ±2% of it. https://historyofmarket.com/sp500/annualized-matrix/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/annualized-matrix.png Pick Any Entry Year, Any Exit Year Hold-period analysis across every entry/exit combination. https://historyofmarket.com/sp500/rolling/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/rolling.png Five Years Later, the Typical Return Fewer than one-in-ten 5-year windows came back negative. https://historyofmarket.com/sp500/sp500-logyoy/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/sp500-logyoy.png Fourteen Crossings of Zero Bull/bear handoffs on a log year-over-year scale, 1928→today. https://historyofmarket.com/sp500/drawdown/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/drawdown.png Every Deep Fall Carries a Name From the 1929 cliff to the 2020 pandemic shock. https://historyofmarket.com/sp500/intrayear-dd/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/intrayear-dd.png Deepest Intrayear Drop vs Year-End Outcome Average intrayear drawdown -14%, year-end average still positive. https://historyofmarket.com/sp500/volatility/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/volatility.png The Market's Breathing Rate Long-term median ~15%; >30% marks transitional phases. https://historyofmarket.com/sp500/vix/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/vix.png VIX — The Bill for Buying Protection Above 30, the market is already paying to hedge the next risk. https://historyofmarket.com/sp500/monthly/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/monthly.png Twelve Months, Twelve Temperaments November and April carry the highest win rates; September the cruelest. https://historyofmarket.com/sp500/pe/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/pe.png Shiller CAPE — The Cycle-Smoothed P/E Historical mean 17×; today's reading sits near the century high. https://historyofmarket.com/sp500/aiae/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/aiae.png AIAE — America's Equity Allocation A sharper 10-year return predictor than CAPE. https://historyofmarket.com/sp500/eps/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/eps.png S&P 500 Earnings Per Share (TTM) Profit is the numerator; strip it out and every valuation falls apart. https://historyofmarket.com/sp500/roe/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/roe.png S&P 500 · Return on Equity Remarkably steady near 15% over the last two decades. https://historyofmarket.com/sp500/return-details/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/return-details.png Total Return = Price + Dividend + Buyback Buybacks have overtaken dividends as the second pillar of return. https://historyofmarket.com/sp500/m7/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/m7.png Magnificent 7 · Equal-Weight Index AAPL, MSFT, NVDA, GOOGL, AMZN, META, TSLA — indexed to 2022-01-03. https://historyofmarket.com/sp500/sectors/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/sectors.png GICS Eleven-Sector Weight Distribution Tech dominant; the rest of the economy trailing. https://historyofmarket.com/sp500/scatter/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/scatter.png 500 Constituents at a Glance Market cap × 1-year return × index weight, on one chart. https://historyofmarket.com/sp500/changes/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/changes.png Index Metabolism — In and Out A decade of additions and deletions — the index's heartbeat. https://historyofmarket.com/sp500/rules/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/rules.png How the S&P 500 Is Actually Built Eligibility, weighting, and governance — the house rules. https://historyofmarket.com/nasdaq/nasdaq-composite/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/nasdaq-composite.png Nasdaq Composite — From 100 to 16,000+ Opened at 100 on Feb 5, 1971. Parallel to American innovation. https://historyofmarket.com/nasdaq/nasdaq-logyoy/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/nasdaq-logyoy.png Footprints of a Bubble Dot-com 2000 and tightening 2022 are the two deepest red stretches. https://historyofmarket.com/nasdaq/nasdaq100-annual/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/nasdaq100-annual.png QQQ Annual Returns ~15% average since 1999; -42% in 2008. https://historyofmarket.com/nasdaq/ndx-annual-dist/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-annual-dist.png Nasdaq 100 Annual Return Distribution Thicker tails than the broad market — tech's native shape. https://historyofmarket.com/nasdaq/ndx-matrix/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-matrix.png Nasdaq 100 · Pick Entry, Pick Exit The annualized-return matrix since 1986. https://historyofmarket.com/nasdaq/ndx-rolling/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-rolling.png Nasdaq 100 · 5-Year Rolling Annualized Negative windows ≈ one-tenth of history, monthly since 1990. https://historyofmarket.com/nasdaq/ndx-drawdown/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-drawdown.png Nasdaq 100 · 59 Historical Drawdowns Down 83% cumulatively from 2000 to 2002 — the canonical bubble. https://historyofmarket.com/nasdaq/ndx-intrayear-dd/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-intrayear-dd.png NDX · Deepest Intrayear Dip vs Outcome Intrayear -18% on average; year-end still averages +18%. https://historyofmarket.com/nasdaq/ndx-volatility/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-volatility.png Nasdaq 100 · 20/60-Day Volatility Median ~22%, systematically above S&P 500 — a structural feature. https://historyofmarket.com/nasdaq/ndx-vxn/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-vxn.png VXN · Nasdaq 100 Fear Index Above 35, tech has already entered systemic risk territory. https://historyofmarket.com/nasdaq/ndx-monthly/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-monthly.png Nasdaq 100 Monthly Heatmap Since 1985; November and December friendliest, January cruelest. https://historyofmarket.com/nasdaq/ndx-return-details/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/ndx-return-details.png QQQ Total Return — Price / Dividend / Buyback Within tech's total return, the buyback slice keeps growing. https://historyofmarket.com/nasdaq/nasdaq100-companies/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/nasdaq100-companies.png Nasdaq 100 · Constituents & Weights The more concentrated, the more the index is a handful of names. https://historyofmarket.com/nasdaq/nasdaq100-weights/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/nasdaq100-weights.png Top 25 Holdings & Cumulative Share Seven names already take half; buying QQQ bets on those seven. https://historyofmarket.com/nasdaq/nasdaq100-member-returns/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/nasdaq100-member-returns.png Constituent 1-Year Return Rankings First to one hundredth; dispersion is enormous. https://historyofmarket.com/nasdaq/nasdaq100-ytd/ 2026-04-21 daily 0.8 https://historyofmarket.com/og/panels/nasdaq100-ytd.png Nasdaq 100 · YTD Return Rankings Ranked by calendar-year return; the list moves daily.