Today’s Chart of the Day was shared by Jeff Hirsch (@AlmanacTrader). The S&P 500 is up about 25% so far this year. The table looks at all the prior instances over the past 70 years where the S&P 500 was up 10% or more heading into Thanksgiving. A few key takeaways; December has been positive 76% of the time for an average gain of 2.0%. The rest of the year (Tuesday before Thanksgiving through the end of the year) has been positive about 70% of the time for an average gain of 2.3%. Lastly, the S&P 500 has never ended down on the year when it was up double-digits heading into Thanksgiving. If history is any guide, the S&P 500 will likely see further gains by the end of 2021. For more on this, check out the full note here.
