Finally. A day where the S&P 500 gained 1%. And with it, a streak was broken.
The past few months have been unusual, as usual. It’s been a slow, long grind higher without any sort of buying panic.
*Warning, if you don’t like cherry-picked data, this is your chance to leave.
The last positive 1% day prior to today was September 11, 2017. And in the 94 days since, the S&P 500 gained more than 14%.
The S&P 500 gained 14% over a 4 1/2 month period without experiencing a single 1% up day. The last time this happened was never.
What do these numbers mean? Stocks have been moving higher at a snails pace. What do these numbers mean going forward? Nothing.
Have a nice weekend.