The S&P 500 started with the best November ever with a 7.4% gain in the first four days and joined an elite performance club.
Four Days of 1%: The S&P 500 gained over 1% in each of the first four days of November.
This was something that had only been accomplished three other times since World War II, according to LPL Financial's Ryan Detrick.
Since WWII, only 3 other times has the S&P 500 gained 1% or more for 4 consecutive days.— Ryan Detrick, CMT (@RyanDetrick) November 6, 2020
Yes, this is a small sample size, but I think it also shows how rare and potentially powerful this new signal could be.
Extremely strong 6- and 12-month returns historically. pic.twitter.com/5XpgkcX2aZ
All three of those occasions saw strong six month and 12-month performance for the S&P 500 afterwards:
- On June 1, 1970, the S&P 500 saw a 12.3% gain over four days. The six- and 12-month performance after were 10.4% and 28%, respectively.
- On Oct. 14, 1974, the S&P 500 saw a 12.2% gain over four days. The six- and 12-month performance after were 18.6% and 23%, respectively.
- On Oct. 11, 1982, the S&P 500 saw a 10.2% gain over four days. The six- and 12-month performance after were 14.8% and 26%, respectively.
What’s Next: The S&P 500 has seen an average annual gain of 11.8% under President Donald Trump. That trails the performance of Barack Obama, who saw an average gain of 12.4% during his eight-year run.
The best S&P 500 performances by recent presidents were a 12.8% average from George H.W. Bush and a 15.8% average gain from Bill Clinton.
The SPDR S&P 500 Trust ETF SPY is near flat Friday at $349.72.
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