A surge in outperforming shares highlights strong market breadth, the very best since 2002.
Beneath, we talk about 5 key charts that reveal robust momentum for the S&P 500 as 2024 enters its final quarter.
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September has a popularity for being one of many worst-performing months for the . This yr, nevertheless, has bucked that development, with the index now on monitor to ship one of many strongest September performances in latest reminiscence.
The variety of shares outperforming the S&P 500 has surged to its highest stage since 2002, underscoring the market’s exceptional power.
With bullish alerts rising throughout the board, let’s study 5 key charts that illustrate how the S&P 500 has defied historic traits this month and will maintain its momentum as we head towards the top of 2024.
Chart 1: S&P 500 Continues Posting New All-Time Highs
The S&P 500 lately achieved three new all-time highs in a single week, bringing its spectacular whole for 2024 to 42.
This chart illustrates the frequency of all-time highs for the S&P 500, showcasing its spectacular efficiency this yr towards the backdrop of September’s historic traits.
Chart 2: Variety of Optimistic Weeks for the 12 months
Over the previous yr, the index has proven exceptional resilience, with 35 weeks delivering optimistic returns—a powerful 67% of the time. It is a clear indication that market momentum is powerful.
Chart 3: Variety of Shares Outperforming the Index
This graphic shows the proportion of shares outperforming the S&P 500, highlighting the very best stage since 2002 and signaling robust market breadth.
Chart 4: Disinflation Developments
On this chart, we monitor the year-on-year disinflation price proven by the , displaying a modest decline from +2.45% to +2.23% whereas affirming the persistence of the disinflationary development.
Chart 5: Labor Market Dynamics
This visible illustration of the information traces the labor market’s efficiency since September 2021, illustrating the fast decline adopted by practically three years of sideways motion, dispelling fears of serious deterioration.
Backside Line
I wish to draw your consideration to those graphs and information as a result of the present bullish development is undeniably robust.
This second presents a chance for every of you to replicate critically on the voices you’ve got listened to over the previous few months.
Should you held a bearish view and selected to remain on the sidelines, contemplate who continues to affect your views in the marketplace at present.
If somebody has persistently been incorrect and retains pushing the identical failed bearish narratives – ask your self: why ought to they nonetheless have your consideration?
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Disclaimer: This text is written for informational functions solely. It isn’t supposed to encourage the acquisition of property in any manner, nor does it represent a solicitation, provide, advice or suggestion to speculate. I wish to remind you that every one property are evaluated from a number of views and are extremely dangerous, so any funding determination and the related danger is on the investor’s personal danger. We additionally don’t present any funding advisory providers.
