Just Another 1% Monday

For the second week in a row, the S&P 500 has made a big move on the first trading day of the week. Last Monday the index gained 2.22%, and today it rose 1.45%. During the current bull market that started on March 9th, the S&P 500 has now gained more than 1% on Mondays (of a full trading week) 11 times. The median return on Tuesday following these big Mondays during the bull market has been 0.10%, while the median return for the rest of the week has been 0.40%. Unsurprisingly, during the bear market, big Mondays were usually met by big losses for the rest of the week.

click to enlarge