Tuesday, February 7, 2017

Slow and Steady

So far this year, the stock market has been going nowhere fast. The S&P 500 hasn’t experienced a daily trading range of 1 percent or greater for 34 consecutive trading sessions. That's the longest such streak since 1995, according to the Wall Street Journal’s Market Data Group.

The average daily range between a session’s intraday high and low over that stretch, dating back to December 14, is just 0.54 percent, according to FactSet. By comparison, the S&P 500′s average daily trading range in 2016 was 0.96 percent.

Still, all those little moves can add up, as long as there are many more up days than down days in there. On the year, the S&P has risen by a very solid 2.4 percent.

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