After an epic surge off the post-Brexit lows that took the S&P 500 to new all-time highs, the rally has been stopped dead in its tracks over the last two weeks. But investors will take a flat market over a down market any day of the week!
To highlight just how flat this market has been, below is a chart showing the rolling 10-day high/low spread for the S&P 500 since the start of the bull market. Over the last ten trading days, the index has traded in a range of just 0.52%! That’s not only the lowest reading we’ve seen during the current bull market — it’s also the lowest reading we’ve seen since 1965!
We analyze prior periods of unprecedented flatness in this week’s Bespoke Report newsletter. We also pack a ton of additional analysis into this week’s 39-page report. You can read the entire thing by starting a 14-day free trial to our paid content below.
Have a great weekend!