S&P 500 Sees First Back-to-Back Weekly Decline Since October; Up 24.3% in Best 20-Week Stretch, Historical Data Shows Positive Trends

The S&P 500 experienced its first back-to-back weekly decline since late October, with a decrease of 0.26% and 0.13% over the past two weeks. However, it has seen a significant 24.3% increase over the past 20 weeks, marking the best 20-week stretch since August 2020. Additionally, the index narrowly missed being up 17 out of 20 weeks for the first time since 1964. Historical data shows that when the S&P 500 has risen by 20% or more in a 20-week period, it has been higher one year later in 21 out of 22 instances. Technical analysis suggests a potential topping pattern in the S&P 500, with attention on upcoming price movements and key support levels amid market volatility and upcoming events like the FOMC meeting.