Earlier today I received an email from Praveen Chawla, who writes:

I visit your site regularly. Your charts help me keep a perspective relative to the sweep of history. While the past is not prologue, it does rhyme.

I wanted to share with you a chart I have been working on that illustrates the relative breadth and depth of bear/bull market cycles. I plan to update it on a monthly basis.

In a subsequent email, Praveen mentioned that he's planning a chart based on the monthly averages of daily closes since 1871, the data set graciously shared by Yale professor Robert Shiller.

Mekko, I believe, refers to graphics software from Mekko Graphics. Interesting!