Today’s Chart of the Day was shared by Ryan Detrick (@RyanDetrick). Today was a special day for the S&P 500 as it closed out the day (+1.44%), the week (+3.48%), the month (+3.51%) and the quarter (+7.03%) with gains across board. As we turn the calendar, Ryan points out that April has historically been a strong month for the S&P 500. It's been the best month over the past 20-years, and the second best month since 1950. He adds that April has rarely ended lower in pre-election years like 2023. In pre-election years, the S&P 500 has been higher 17 out of 18 times (94.4% of the time) for an average gain of 3.5%. Seasonality is just one of many data points to consider, but April has historically been kind to the bulls. For more on April seasonality, check out this note from Ryan.
Chart of the Day - Friday, March 31st, 2023
March 31, 2023
