With earnings season kicking into second gear next week, we thought we'd highlight the market's performance during the earnings season and off-season throughout the current bull market (10/02-present).
Our time frame for earnings season is from Alcoa's report date to Wal-Mart's report date (typically about 5 weeks). Going back to the start of the current bull market, the cumulative return of the S&P 500 during earnings season is 9%. On the other hand, the cumulative return of the S&P 500 during the off season is 48.4%. These numbers clarify the meaning of this post's title - 84% of the current bull market's gains have come during the earnings off season.