FYI: The graphic below shows the S&P 500’s median one-week, one-month, and three-month returns (from today’s closing level) based on the last ten years of data. In the short term, the S&P 500’s median performance in the one-week period from the close on 4/23 through month end has been an impressive +0.82%, which is better than average compared to other one-week periods over the last ten years. While median returns in the very short-term have been good, the S&P 500’s median one-month return from the close on 4/23 has been a paltry 0.17%, which ranks as poor relative to all other one-month periods over the last ten years. Finally, looking out over the next three months, the S&P 500 has seen a median gain of 2.28%. That sounds respectable enough, but when you consider the fact that most of that time has been during a bull market, 2.28% only ranks as neutral relative to median three-month returns for all other periods throughout the year.
Regards,
Ted
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