Chart shows market rebound is second best ever during a growth period … behind the 1998 tech boom

The market rally is mimicking a trend that hasn't been seen in more than two decades, according to Avalon Advisors' Bill Stone.

Stone's takeaway: It looks a lot like the dot-com boom based on 65 trading days since the December low. In a note out Monday, Stone wrote"Our analysis of rebounds following large declines since World War II puts this rebound at the high end of the typical at this point."Since the December meltdown, the S&P 500 has surged more than 22 percent. The index is now just 2 percent off its all-time high of 2,940, hit last September — a level he expects will be surpassed this year.

Where is the growth?

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