On Wednesday, the S&P 500 index was up 3.9 percent. So we wanted to see what happens the day after a move that large.
Since 1978 the SPX has seen a gain of 3.5-4.5 percent on 38 different occasions; Wednesday was the 39th time it happened.
In the previous 38 circumstances, the market was basically a coin flip the next day. Here are the stats:
+4.03% best day
-5.27% worst day
-0.10% mean day
-0.10% median day
19 positive days
19 negative days