{"id":86757,"date":"2023-11-20T17:56:05","date_gmt":"2023-11-20T22:56:05","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/sp-500-just-had-its-best-three-weeks-since-2020-what-history-says-happens-next\/"},"modified":"2023-11-20T17:56:07","modified_gmt":"2023-11-20T22:56:07","slug":"sp-500-just-had-its-best-three-weeks-since-2020-what-history-says-happens-next","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=86757","title":{"rendered":"S&P 500 Just Had Its Best Three Weeks Since 2020. What History Says Happens Next."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

As we approach Thanksgiving, investors have a lot to be grateful for, given recent market moves. If history is any guide, the rest of the year and the beginning of 2024 should be merry and bright as well.<\/p>\n

All three indexes are trading higher on Monday, and that\u2019s after a banner run in the past weeks. On Friday, the
\n Nasdaq Composite
\n notched its largest three-week point gain ever on record, and while Silicon Valley has been propelling 2023\u2019s rally, it wasn\u2019t just that tech-heavy index that benefitted.<\/p>\n

\n

The
\n S&P 500,<\/span>
\n like the Nasdaq and the
\n Dow Jones Industrial Average,<\/span>
\n has been up for three straight weeks through Friday\u2019s close, rising 9.6% over that time. That is its largest three-week point and percentage gains since April and June 2020, respectively, when the market was rebounding from the initial shock of the spreading Covid-19 pandemic.<\/p>\n

While the S&P 500 itself has had a great three-week run, plenty of the index\u2019s components have done even better.
\n Nvidia
\n (ticker: NVDA), one of this year\u2019s big tech stars, is up more than 23%. In addition
\n Expedia Group
\n (EXPE),
\n Generac Holdings
\n (GNRC),
\n Carnival
\n (CCL), and
\n Paramount Global
\n Class B shares (PARA) have all returned more than 30% since the market correction low on Oct. 27.<\/p>\n

Those latest gains put the S&P 500 up 7.6% in the month of November alone, and up more than 17% since the start of the year.<\/p>\n

Of course, with the index already up so much, some may be skeptical of its ability to keep climbing, particularly at a time when high interest rates are acting as a headwind, particularly to high-flying tech names. \u00a0<\/p>\n

However the S&P 500 has managed to keep the party going more often than not, according to Dow Jones Market Data.<\/p>\n

Going back to 1962, there have been 39 other times that the S&P 500 delivered three-week percentage changes of 9% or more, excluding this most recent run. Following those past three-week surges, the index was still up on average over one-, two-, three-, four- and eight-week periods. In fact, the gains, seem to rise as time goes on; the index averages a 1.83% gain one month out, and a 3.91% gain after two months.<\/p>\n

Nor is that thanks to a few outliers. Looking on a median basis is similarly cheery, as the index is similarly in the black over the one- two-, three-, four- and eight-week periods. The median gain four weeks out is 2.21%, and a figure that jumps to 3.3% of eight weeks.<\/p>\n

Therefore, if historical patterns hold, the S&P 500 should have a jolly end to the year, and start of 2024.<\/p>\n

But\u2014there\u2019s always a but\u2014it is worth noting that the pattern hasn\u2019t been as reliable in recent years. The last three times the S&P 500 jumped more than 9% in three weeks\u2014twice in April 2020 and again in June that year\u2014the results were a bit mixed. The index was in the red one week and one month out for the first and last of those periods; nonetheless, it was higher eight weeks later in all three of those instances.<\/p>\n

All investors that do their due diligence know that past performance is no guarantee of future results, and there are naturally other factors at play that could impact the market. Nonetheless, in a year when bullish historical patterns have often played out, it\u2019s a positive sign that the party isn\u2019t over yet.<\/p>\n

Write to Teresa Rivas at teresa.rivas@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As we approach Thanksgiving, investors have a lot to be grateful for, given recent market moves. If history is any guide, the rest of the year and the beginning of 2024 should be merry and bright as well. All three indexes are trading higher on Monday, and that\u2019s after a banner run in the past […]<\/p>\n","protected":false},"author":1,"featured_media":86758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-86757","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nS&P 500 Just Had Its Best Three Weeks Since 2020. What History Says Happens Next. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"As we approach Thanksgiving, investors have a lot to be grateful for, given recent market moves. 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