by Brian Maher
Daily Reckoning
Markets rediscovered their fighting elan today. Impassioned pledges of government support stiffened their nerves… and steeled their spines.
But will they soon be taking to their heels again? We cannot say.
We are nonetheless unsurprised that the S&P counterattacked to a 136-point gain today.
Take in the history from 1952:
The S&P has withstood trouncings of at least 5% or more on 10 previous Mondays. This Monday’s was its 11th (7.60%).