In the fastest bull market in history, the S&P 500 doubled from its pandemic lows. While this is undoubtedly a newsworthy milestone, what does history suggest happens next?
As noted by CNBC:
“Here’s a market milestone to encapsulate the stunning recovery rally. The S&P 500 doubled its level from its pandemic closing low.”
“The broad equity benchmark has rallied 100% from its Covid trough of 2,237.40 on March 23, 2020 on a closing basis. It took the market 354 trading days to get there, marking the fastest bull-market doubling off a bottom since World War II, according to a CNBC analysis of data from S&P Dow Jones Indices.”