Although it was one of the smaller Monday gains in the last three months (0.17%), today's advance in the S&P 500 keeps the 'Monday Bull Market' rally intact. As shown below, the S&P 500 has now seen gains on fourteen of the last sixteen Mondays with an average change of +0.81%. The index's average rest of week performance has been a decline of 0.21% with positive returns only half of the time. If it weren't for Mondays, we would be staring at a much different market picture. (Click here to view a B.I.G. Tips report that we sent out to Premium subscribers last week on this topic.)
With today's advance, the S&P 500 is also now up six days in a row. The only other time the index started off the year with a winning streak of six or more days was back in 1987 when the first seven trading days of the year were all positive.
Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.