A rebound in the works ?
This week marks the 7th down week for the SPX. In the table below, someone tabulated the turns of the index 1/3/6 months after 7 or 8 continuous down weeks. As can be seen in the table below, the market tends to rebound with double digit returns ( 3 out of 4 occasions and 8.57% in 1953) in the ensuing 30 days. Of course past performance does not guarantee future results but it will certainly be interesting times in the next few weeks. Food for thoughts?
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