Another Bad Start
July 14, 2008
Hickey and Walters (Bespoke) submit:
While we’re only nine days into the month, the second half of the year is starting off just like the first half, and unfortunately for the bulls, it’s a bad one. The chart below shows the S&P 500’s performance during the first 50 trading days of 2008 (red line) along with its performance so far during the first nine trading days of the second half.
As shown, the S&P 500 is down 3.54% so far this half compared to a decline of 3.55% during the first nine trading days of 2008. Let’s hope this pattern doesn’t continue.
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