CNBC: “This year’s big rally has come to only a few days, again challenging market-timers”
By datatrekresearch in IN THE NEWS
Excerpt from CNBC quoting DataTrek co-founder Nick Colas:
...."Nearly all the S&P 500′s 18.1% gain this year can be traced to 10 days, all of which have coalesced around three general themes, according to a DataTrek Research analysis.
“If 2023 to date is all some sort of huge head fake, the burden of proof for contrarian arguments is quite high,” wrote DataTrek co-founder Nicholas Colas. “The year’s market internals – slightly more up days than down – fit the classic definition of a bull or at least bull ‘ish’ market.”
Of the 137 trading days so far, 74 have been positive and 63 have been negative. The 10 best days have provided a return of 17.4%, or about 96% of the total increase. By contrast, last year’s swoon on the S&P 500 could be traced to just five big losing days"....
Full article here on CNBC.
