Premium'Tactically Bullish': JPMorgan Traders Weigh Bull/Bear Case After Biggest Bounce Since COVID
As we enter what may be the last active week of the summer, JPMorgan's Craig Cohen offers some key color on how far we have come:
“The S&P 500 ended modestly flat yesterday [July 24] but still marked an impressive milestone. The S&P 500 has now rallied more than 25% over the past 75 days, the largest 75-day rally since the rebound from the COVID lows.
Forward-looking returns after a rally like this are quite strong. A year later, the index was higher every single time with an average return of around 20%. Shorter timeframes show strong returns as well.
The S&P 500 was, on average 7% higher three months later and 13% higher six months later.”
