As always, click the graphic to see a more readable image.
On the surface, Trump’s 1st 100 days (since election) ‘comp’ well with JFK, as well as Bush 1 and Clinton. Each of these presidents saw successful markets for the rest of the year. From data supplied by Bespoke (whose premium service is a good market data source) I created this table showing the S&P 500’s ‘1st 100 days since election’ percentage, the largest decline from a closing high, the next 100 days and the rest of the year (ROY).
Bullish, right? JKF, Bush 1 and to a lesser degree, Clinton would say so.
I made Eagle Scout when I was only thirteen years old. I was confirmed into the Methodist church before that. I was literally a choir boy, as well as an acolyte. And, as a fully consecrated Christian, I say the following in full sight of God almighty: anyone who thinks this market should be bought is out of their fucking mind. Amen.
SPX didn’t quite make the ATH retest I wanted on Friday and delivered it this morning with a gap through channel resistance. Channels don’t overthrow so that is a clear resistance break and opens higher targets. SPX 60min chart: