The Volatility Killer
by Eddy Elfenbein, Crossing Wall Street
The S&P 500 is up to another all-time high today. Since Brexit, the S&P 500 has had 11 down days. It’s closed higher the following day 10 times.
Here are the daily changes since June.
The last 43 down days for the S&P 500, the market has closed higher the following day 31 times.
Here’s a look at the daily ranges this year, meaning the difference between the S&P 500’s high and low. Notice how much narrower it’s become all year. Brexit is an obvious exception, but that didn’t last long.
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