The current market sell off marks only the fifth time since the March 9th low that the S&P 500 has had back to back declines of 1%. In the chart below of the S&P 500, we show each of those prior occurrences as well as the additional decline the S&P 500 saw before making a low. As shown, in two periods (3/20 and 3/30) the low was put in with the second day's decline. In the other two periods, the S&P 500 saw additional declines of 3.6% (6/16) and 2.9% (10/26).
Earlier today, we put out a note for clients and looked at the market's historical performance following back to back 1% declines. To view the report, subscribe to Bespoke Premium today.
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