The S&P 500 index recently saw the fastest recovery in its history following the COVID-19 bear market. This week, Craig Siminski, of CMS Retirement Income Planning, shares an article discussing whether this surge will continue:
On August 18, 2020, the S&P 500 set a record high for the first time since COVID‑19 ushered in a bear market on February 19.
The cycle from peak to peak was just 126 trading days, the fastest recovery in the history of the index — erasing losses from an equally historic plunge of almost 34% in February and March.
Based on the traditional definition of market cycles, the new record confirms that a bull market began on March 23 when the index closed at its official low point. This also confirms that the February–March bear market was the shortest on record, lasting just 33 days.
Although the strong comeback is good news for investors, there is a striking disconnect between the buoyant market and an economy still struggling with high unemployment and a public health crisis. The market is not the economy, but…
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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 22 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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