Ah, Spring Is In The Air! Bad News For Stocks?
Much has been made of the strong rally the market has experienced so far this year, but as we have mentioned numerous times, it's important to remember that last year at this time, the market was up even more. On this trading day last year, the S&P 500 was up 11.09% year to date. As of this morning, the S&P 500 was up 8.99% year to date in 2013.
Below is a chart showing the performance of the S&P 500 in 2013 overlaid on a chart of its performance in 2012 through the end of July. As shown, while the S&P 500 was up slightly more in the first quarter of 2012, the index has tracked its 2012 pattern pretty closely in the first quarter of this year. Bulls will be hoping the pattern breaks quickly, however, because the party for stocks ended quickly once the second quarter began last year. In fact, by the start of June last year, the index had given up nearly all of its double digit percentage gains from the first quarter.
Covestor Ltd. is a registered investment advisor. Covestor licenses investment strategies from its Model Managers to establish investment models. The commentary here is provided as general and impersonal information and should not be construed as recommendations or advice. Information from Model Managers and third-party sources deemed to be reliable but not guaranteed. Past performance is no guarantee of future results. Transaction histories for Covestor models available upon request. Additional important disclosures available at http://site.covestor.com/help/disclosures. For information about Covestor and its services, go to http://covestor.com or contact Covestor Client Services at (866) 825-3005, x703.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts