While the S&P 500 closed the week at 2102, only 11 points below where it was the previous Thursday, the ride getting there was anything but normal. All told, there was a swing of 233 points. During that time, the S&P 500 also twice crossed that 2043 level that I’ve mentioned in the past. Just to see how “normal” things are, I did some further research and the S&P 500 has either crossed above or below that 2043 level 33 times since mid-November 2014, or 20 months ago. That\'s averages out to more than 1 ½ times per month, which translates to a flat market. In the upcoming shortened week (Happy 4th to all), I don’t expect similar swings, but would sure like to see the S&P 500 break out and make a new 52 week high in the not too distant future, and then see a nice trend to the upside.
While the S&P 500 closed the week at 2102, only 11 points below where it was the previous Thursday, the ride getting there was anything but normal. All told, there was a swing of 233 points. During that time, the S&P 500 also twice crossed that 2043 level that I’ve mentioned in the past. Just to see how “normal” things are, I did some further research and the S&P 500 has either crossed above or below that 2043 level 33 times since mid-November 2014, or 20 months ago. That\'s averages out to more than 1 ½ times per month, which translates to a flat market. In the upcoming shortened week (Happy 4th to all), I don’t expect similar swings, but would sure like to see the S&P 500 break out and make a new 52 week high in the not too distant future, and then see a nice trend to the upside.