For several weeks now, we have been highlighting the "Monday Bull Market" in the S&P 500. If today's gain holds, the S&P 500 will have started off the week with a positive return in 16 out of the last 18 weeks (89%). While weeks have had a tendency to get off to a good start, they haven't necessarily finished that way. Since the end of September, the S&P 500 has averaged a gain of 0.83% on the first day of the week and a decline of 0.54% for the remainder of the week. Last week the index was down 5.08% from Tuesday's close through the end of the week (Monday was a holiday).
Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.