A few weeks back, we took pen to paper on a Weekly Wire that pointed out – at the risk of jinxing it – that the S&P 500 was up 1.4% over the first four trading days of the year, and that if we could close positive for the year through the fifth trading day of 2023 (January 9th), the odds were quite good that US equities would deliver a positive return for the full year (since 1929, when the stock market was up through the first five trading days, it went on to deliver a full year gain 75% of the time, producing an above average annual return of 11.9%).
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