Chart of the Day - Wednesday, March 13, 2024

🏆 Today’s Chart of the Day was shared by Louis Spector (@EastCoastCharts).

• The S&P 500 hasn't had a -2% down day in over a year. 266 trading days, to be more exact.

• That might sound unsustainable, but Louis points out that this streak could last 2x or 3x longer before breaking any records.

• This has happened 15 times since 1950 (over 250 trading days without a -2% down day). Seven made it past 500 trading days, and four made it past 700 trading days. The index was almost always higher one year later (14 of 15 times), with one notable exception.

The takeaway: It's been over a year since the S&P 500 fell -2% in a day. That might sound unsustainable, but history shows this can continue much longer.