Wednesday, May 11, 2016

Market update: S&P 500 (11 May 2016)

  • Wed 5/11/16: S&P 500 gave up most of its gains from Tue (after disappointing Q1 earnings from Macy's, Disney, et al.)

10-month SPY

Waiting for the S&P 500 Index to reach a new high may prove rewarding if history is any guide, according to a report Tuesday by Stephen Suttmeier and Paul Ciana, analysts at Bank of America Corp.’s Merrill Lynch unit. The latest peak for the index occurred on May 21, 2015, or 355 days ago. Gaps of 300 days or more between 52-week highs were recorded 23 times since 1929, based on data cited in the report, and the S&P 500 averaged a gain of 15.6 percent in the 250 days after the later peak was reached.

No comments:

Post a Comment