The S&P 500 Index gained just shy of 4.5% last week, the best weekly gain of 2019. This type of strength is rare. Measured from Monday’s close to Friday’s close the index jumped an even great amount(4.7%). What’s next? OddStats put up some interesting data this weekend regarding 4.5%(or greater) gains. Could be a choppy week ahead. Also of note, June is usually one of the weakest months of the year for stocks. A return to more normal June action could usher in a healthy pullback.
Hat tip Callum Thomas/@OddStats/Ryan Detrick(LPL Research)