S&P Down More Than 1% Three Straight Fridays: More Declines Likely

 |  Includes: IVV, SPY
by: Bespoke Investment Group

Hickey and Walters (Bespoke) submit: 8/3 marked the third straight Friday of -1% declines for the S&P 500. And each Friday has gotten progressively worse. This is just the fifth time it has happened since 1945.

Below we highlight the prior 4 times it occurred. As shown, the first didn't happen until August 1990, and the market was down significantly the following week. It happened again in February 2000, and while the market bounced in the short term, we all know where it went from there. In February 2001 and May 2002, the S&P 500 again saw 3 straight Fridays of -1% or more, and while results were mixed over the following week, the following month was down quite a bit.

3 fridays