This week’s Bespoke Report newsletter is now available for members.
In a world where talk is increasingly cheap while real action is an endangered species, the equity market has put its money where its mouth is, surging 40%+ in the last 50 trading days capped off with a massive rally this week. This week’s 5% gain marked the third straight week that the S&P 500 was up over 3%. The last time that happened? September 1982. And before that you have to go back to 1940 and then a few other occurrences in the 1930s.
Between the low on March 23rd through Wednesday (6/3) the S&P 500 rallied more than 39%. That’s the strongest 50-day move for the index since 1952 when the US stock market went to the five-day trading week. (Prior to 1952, the NYSE was open on weekends as well, and our historical daily data pre-1952 for the major indices lumps the weekend’s move into Monday’s change. Thus, the 50-trading day rate of change prior to 1952 is not necessarily an apples to apples comparison with the same data post 1952.)
This week’s Bespoke Report covers all this week’s market events and the rally off the March lows to see how they may impact performance going forward. To read the report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!