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“There are three things in the world that deserve no mercy; hypocrisy, fraud, and tyranny.” – Frederick William Robertson

Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.  

Since the start of 2022 (when the last bear market began), there have been 26 one-day gains of 2%+, and 23 of those came in 2022 when markets were struggling.  Yesterday was just the 2nd 2%+ gain of 2024 and there was only one 2%+ gain in all of 2023.  As shown below, the S&P has averaged a small decline of 0.14% on the day after 2%+ up days since 2022 and a bigger drop of -0.39% in the week after 2%+ gains.  Over the next month, though, the S&P has averaged a gain of 1.10%.

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