Chart of the Day - Thursday, August 13th, 2020

Today’s Chart of the Day was shared on Twitter by Ryan Detrick (@RyanDetrick). He points out that today marks the 100th trading day since the March 23rd low. The S&P 500 has surged more than 50% in that time, making this the largest 100-day rally in the history of the index. It's easy to say the market has gone too far too fast, however, the data suggests otherwise. On average, the forward returns following the largest 100-day gains have been positive across all time frames measured. One year later, the index was higher 17 out of 18 times for an average gain of 9.4%. History shows us that further gains are not only possible but probable.