Today’s Chart of the Day was shared on Twitter by Steve Deppe (@SJD10304). The S&P 500 kicked off the week on a sour note today, dropping 1.86%, marking the worst day in just over a month. Despite the bearish start, Steve points out that it wouldn't be surprising to see bulls regain some control in the remainder of the week. The table shows all the prior instances over the past decade, where the S&P 500 dropped between 1.5% to 3% to start the week. On average, the next few days have been positive more often than not. Four days later, the index was higher 73% of the time for an average gain of 1.62%. As a reminder, this is not intended to be a prediction but rather an illustration of what is possible and probable based on historical data.
Chart of the Day - Monday, October 26th, 2020
October 26, 2020
