Three Straight 1% Rallies Are Extremely Rare in S&P 500by
The Standard & Poor’s 500 Index is poised for a third day of 1 percent gains -- something that hasn’t happened since October 2011. Such concentrations have occurred at a rate of only two in 1,000 trading days since 1990, or 15 instances in total. Should the market climb another 1 percent Thursday, that’d extend the streak to four days, a feat not seen since 1982. In the previous 14 cases when the S&P 500 posted three days of such big gains, stocks advanced after one month in eight instances, with returns averaging 0.6 percent. After 12 months, stocks climbed in all instances except as the Internet bubble burst in the early 2000s. The S&P 500’s average move after one year was a 10 percent gain.