Chart of the Day - Thursday, October 1st, 2020
October 1, 2020
Today’s Chart of the Day was shared on Twitter by Ryan Detrick of LPL Financial Research (@RyanDetrick). The S&P 500 gained an impressive 8.5% in Q3. This is noteworthy considering that Q3 has historically been the weakest quarter of the year. Ryan points out that strong gains in Q3 could bode well for the remainder of the year. Going back to 1950, the S&P 500 has always been positive in Q4 after a Q3 gain of 7.5% or more. Many continue to fear that the market has risen too far, too fast. However, this piece of evidence suggests that further gains are not only possible but probable. For more on this, make sure to check out the full note from the team at LPL Financial Research.