After a very noisy drop over a couple of days last week, the stock market has been making a bit of a comeback this week. Through yesterday, the S&P 500 has actually had its best three-day stretch since the very beginning of the year, rising by 2.6 percent.
That doesn't quite make up for last week's slide, after the Fed made clear that its bond-buying program would eventually have to end. The S&P dropped 3.9 percent in two days at that point, and even with this week's rally, it's still down 1.1 percent for June, with one trading day left in the month.
But with 2013 almost exactly halfway in the books, the S&P is still up a strong 13 percent for the year. Even with the plunge over most of the last month - the S&P lost more than 5 percent of its value between May 21 and June 24 - it's been a very good year to be invested. One more lesson in avoiding the short-term roller-coaster movements of the market, and keeping your eye on the long term.
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