First Word

Reminder, as S&P 500 nears all-time high, 'markets that go nowhere' for 20 months historically resolve with upside breakout

The video in this report is only accessible to members

The prior all-time high in the S&P 500 was 3,027.98 on July 26, 2019 and the S&P 500 is currently close to exceeding this level.

If the S&P 500 manages to make an all-time, this will be a 'textbook' resolution of 'markets going nowhere'

- There have been 3 prior instances since WWII where markets were flat 20M, 12M and within 1% of highs.
- 3 of 3 times, there was an upside breakout with an average gain of 51% --> this implies S&P 500 4,500 by end of 2021.

Surprisingly, there is no instance, where this "markets going nowhere" extended past 21 months.  Hence, November would be the 21st month.

If we get upside breakout here, this would strengthen our view that equities will rally into YE above 3,125.

Unlock this article with a FREE 30-Day Trial!

An FSI Macro, FSI Crypto, FSI Pro, or FSI Weekly subscription is required in order to access this content.

*Free trial available only on a monthly plan

More from the author

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free