On the surface, you’d think big up days are usually a good thing. Funny thing is that might not be true.
Turns out, slow and steady usually wins the race. Case in point, only one day this year has had a gain of more than 1.5% for the SPX (trivia stat – it was the first day of the year). This is the lowest number of ‘big’ up days since 1995. Well, for those scoring at home, ’95 was also one of the best years in a generation, gaining 34%.
Here’s a great chart summing it all up.
As you can see, 2008 was a horrible year, yet it had the most >1.5% up days for the SPX going back to 1990! Then in the early 2000s, we had three straight down years and a big surge in ‘big’ up days.
So maybe big up days aren’t always a good thing.
Oh, by the way, as of right now the $SPX is up +1.67% today.