The S&P 500 is on pace to have a 'perfect week' and close at a 52-week high for the first time since August. pic.twitter.com/TENai73lpu
— Bespoke (@bespokeinvest) February 5, 2021
Today’s Chart of the Day was shared on Twitter by Bespoke (@bespokeinvest). What a week for the bulls! Bespoke points out that the S&P 500 just booked a ‘perfect week,’ meaning it closed higher every single day this week. Our friends at Pivot Analytics crunched the numbers (below) and found that returns following a ‘perfect week’ lean slightly bullish. This is more of just a fun stat rather than a tradeable insight. But we thought it really speaks to the relentless bid underlying this market. Clearly, there’s an overwhelming demand for stocks right now, and buyers are demonstrating that they’re willing to pay higher prices for them.