S&P 500 futures were higher prior to the open this morning, but things quickly turned south once the market opened for trading. At its lows this morning, the S&P 500 was down 1.2%. But afternoon trading brought an upside reversal, and by the end of the day, the index closed higher by 0.61%.
Since the bull market began on March 9th, 2009, we found 20 upside reversal days where the index was down between 1% and 2% at its lows for the day before closing up between 0% and 1% on the day. These 20 trading days are shown in the table below. In the table, we include the performance of the S&P 500 over the next day, week, and month of trading, and then we provide average and median returns over these three time frames. To see the forward performance numbers, please sign up for a 5-day free trial to Bespoke Premium or Bespoke Institutional. We sent out this analysis in a B.I.G. Tips report earlier today. Be sure to click on our special July 4th discount button at the bottom of this post if you decide to sign up.