#stocks #recovery #Bull #Bear #market #PresidentTrump
$DIA $SPY $QQQ $RUTX $VXX
The US stock market has not experienced a 100-Day gainer this strong since Y 1933, stocks have seen a very strong recovery in the 100 trading days since the 23 March lows
Thursday marked the 100th trading day since the stock market’s chaos panic low on 23 March, and subsequent rebound is the strongest in almost 90 yrs.
The S&P 500 ended a bit lower Thursday, leaving it 50.1% above its 23 March close of 2,237.40. That marked the US stock-market benchmark’s biggest 100-Trading-day rise since the period ending 18 August 1933, according to Dow Jones Market Data.
It is also not far off its all-time closing high of 3,386.15 set on 19 February, a mark it briefly traded above Wednesday’s session and again Thursday before pulling back late.
This recovery comes in the midst of global public health crisis caused by COVID-19.
The S&P 500 posted a record close of 3,386.15 on 19 February, then dove 33.9% to its 23 March close at 2,237.40 in response to the chaos put the US and much of the global economy on Halt!
During that frame, the S&P 500’s drop from a record Bull into an instant Bear market was the fastest in market history.
The tech-heavy NAS Comp meanwhile, is up more than 60% from its 23 March low of 6,860.67, for its strongest 100-Trading-day advance since the period ending 27 March 2000, according to Dow Jones Market Data, the best 100 Trading days on record was the 100-Days ending 10 March 2000 when the index gained 87.74%.
Thursday, the major US stock market indexes finished at: DJIA -80.12 at 27896.72, NAS Comp +30.27 at 11042.58, S&P 500 -6.92 at 3373.43
Volume: Trade on the NYSE came in light at 719-M/shares exchanged.
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias in here.
- NAS Comp +23.1% YTD
- S&P 500 +4.4% YTD
- DJIA -2.3% YTD
- Russell 2000 -5.3% YTD
Looking Ahead: Investors will receive the following reports Friday: Retail Sales for July, preliminary Q-2 productivity and unit labor costs, Industrial Production and Capacity Utilization for July, the preliminary Univ. of Michigan Index of Consumer Sentiment for August, and Business Inventories for June.
Have a healthy weekend, Keep the Faith!
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