Chart of the Day - Friday, March 31st, 2023

Today’s Chart of the Day was shared by Ryan Detrick (@RyanDetrick). Today was a special day for the S&P 500 as it closed out the day (+1.44%), the week (+3.48%), the month (+3.51%) and the quarter (+7.03%) with gains across board. As we turn the calendar, Ryan points out that April has historically been a strong month for the S&P 500. It's been the best month over the past 20-years, and the second best month since 1950. He adds that April has rarely ended lower in pre-election years like 2023. In pre-election years, the S&P 500 has been higher 17 out of 18 times (94.4% of the time) for an average gain of 3.5%. Seasonality is just one of many data points to consider, but April has historically been kind to the bulls.  For more on April seasonality, check out this note from Ryan.