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Three One-Percent Gains in Five Days

by: Bespoke Investment Group July 23, 2008 | about stocks: IVV / SPY    

Bespoke Investment Group

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What a difference a couple of weeks makes.   Over the last five trading days, the S&P 500 has risen by at least 1% on three different days.  That's right -- up days.  Given the market's declines over the last several months, one would expect to see multiple large down days in a short period of time, but when was the last time we saw this many up days so close together? 

As shown in the chart below, over the last year there have been quite a few instances where this occurred.  So while it's certainly a welcome respite from the declines, the market still needs to show a lot more before investors can start to believe again.

click to enlarge

Sp_500_072308

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This article has 2 comments:

  •  
    Jul 23 01:27 PM
    Interesting. All near or at intermediate tops.

    Any idea what the weekly, monthly performance after a '3 1% up days in 5' is?
    Reply
  •  
    Jul 24 10:49 AM
    It seems clear that trading profits can be made on bounces in virtually any market.

    Whatever your view of the future trend over the next few years, it's clear there are going to be waves and waves and .... more waves.
    Reply
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