Nice to see we started the new year off with a bang, up over 2% yesterday. There will be a lot of talk this month about all of the January seasonality measurements, JC over at AllStarCharts.com did a great post about these and what each one means. Bespoke put up an interesting article yesterday that discussed 2012 market performance and how there wasn’t a single daily close below the closing price of 2011. According to Bespoke, this has only happened a handful of times going back to 1928.
From Bespoke:
2012 was unique for the S&P 500 in that the index never had a daily close that was below the closing level for 2011. In other words, the index was up YTD every single day of 2012. Going back to 1928, there have only been eight other years where the index went an entire year of trading up YTD every single day, with the last occurrence coming more than thirty years ago in 1979.
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Finally, of the eight years highlighted to the right, the average gain of the S&P 500 the following year has been a gain of 10.52% with positive returns 88% of the time.
It’s still early and there are are plenty of days for things to be swung in both directions, but I thought this statistic was interesting and bodes well for equity bulls.
Source: 2013 Picks up where 2012 Left Off (Bespoke)
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