Today's weaker than expected Consumer Confidence report for the month of December was the ninth weakest reading (in terms of points) since 1998. The table below highlights the fifteen prior occurrences where the actual Consumer Confidence reading was more than five points less than expectations. As shown, using the S&P 500 ETF (SPY) as a proxy, these weak readings have historically provided short term buying opportunities, as the S&P 500 has typically risen an average of 0.85% on these days with positive returns nearly 75% of the time.
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Great. except the financial conditions resemble nothing like the last ten years
Posted by: shrek | December 30, 2008 at 12:00 PM
"short term" ? What's the duration ??
Posted by: dave | December 30, 2008 at 05:33 PM