On Friday 10/25/21 the SPX - S&P 500 closed at $4,566.48 up +21.58% for a new ATH - up from FY20' high of $4,756.07 an increase of (32.7%) YoY
This was boosted by strong earnings, progress on U.S.-China trade, & TSLA reaching a new ATH price/share and record breaking market cap of +1.0T - SPX contributes to 113.6% daily returns YTD - 7th highest weighting in the S&P 500 at a 1.5% index weighting
After hitting a new high on 06/26/21 the S&P 500 suffered a sharp sell-off amid fears of an economic recession in August FY21' - hat month the S&P 500 dropped (1.8%) - struggled through September FY21' but has rebounded strongly in October - now up more than 6% from its August
Last week’s 1.2% rise set the stage for a potential S&P 500 upside breakout
The market is sending you a very strong message: The cyclical stocks are recovering and they are outperforming. If the economy was going to hit a really bad patch, these stocks wouldn’t be recovering. The market is finally breaking out of this trading range and it is headed higher