Monday's Rally and the Major Indexes

In today's rally, the Dow, S&P and Nasdaq Composite simultaneously closed up 6.5% or greater for the first time since November 13, 2008, in an event that has only happened 4 times before, 3 times in 2008 and once in 1987. Here are some key dates for when all three major indexes concurrently closed above 6.5% or more.

On Monday, the Dow closed at 7775.86, up 497.48 points or 6.84%, the S&Pclosed at 882.92, up 54.38 points or 7.08%, and Nasdaq Compositeended at 1555.77, up 98.5 points or 6.76%.

-The last time Dow, S&P, and Nasdaq Composite concurrently closed up 6.5% or more:

DOW:

  • 11/13/2008, when it closed up 552.59 points or 6.67%
  • 10/28/2008, when it closed up 889.35 points or 10.88%
  • 10/13/2008, when it closed up 936.42 points or 11.08%
  • 10/21/1987, when it closed up 186.84 points or 10.15%
  • S&P:

  • 11/13/2008, when it closed up 58.99 points or 6.92%
  • 10/28/2008, when it closed up 91.59 points or 10.79%
  • 10/13/2008, when it closed up 104.13 points or 11.58%
  • 10/21/1987, when it closed up 21.55 points or 9.1%
  • Nasdaq:

  • 11/13/2008, when it closed up 97.49 points or 6.5%
  • 10/28/2008, when it closed up 143.57 points or 9.53%
  • 10/13/2008, when it closed up 194.74 points or 11.81%
  • 10/21/1987, when it closed up 24.07 points or 7.34%
  • Leading the rally today on the Dow were IBM , JPMorgan Chase , Chevron , and Exxon Mobil. Furthermore, leading the S&P to the upside were predominantly financials such as Ambac Financial XL Capital and Lincoln National .

    Moreover, with today’s big rally, it looks like all three major indexes have extended their gains for the month, as the DOW is tracking its first monthly gain since 8/29/2008. S&P and Nasdaq are tracking their first monthly gain since 12/31/08.

    -The DOW, S&P, and Nasdaq are currently up 10.1%, 11.95%, 12.91% month to date, as of March 23, with each index currently tracking their best monthly gain since:
    -10/31/2002 for the Dow when it closed up 10.61%
    -1/30/1987 for the S&P when it closed up 13.18%
    -10/31/2002 for the Nasdaq Composite when it closed up 13.45%

    -The Nasdaq Composite is definitely feeling the March madness as this index is marching towards its best March ever. March on average has yielded positive returns over 60% of the time for all three indexes. See below for March stats:

    Dow since 1897:
    -On average the Dow has gained 3.7% during March, 60% of the time
    -On average the Dow has loss -3.85% during March Gras, 40% of the time
    -The biggest March gain was on 1920, when the Dow finished up 12.76%
    -The biggest March loss was on 1938, when the Dow finished down -23.67%

    S&P since 1928:
    -On average the S&P has gained 3.19% during March, 60% of the time
    -On average the S&P has loss -3.98% during March, 40% of the time
    -The biggest March gain was on 1928, when the S&P finished up 11.7%
    -The biggest March loss was on 1938, when the S&P finished down -25.7%

    Nasdaq Composite since 1971:
    -On average the Nasdaq has gained 3.26% during March, 63% of the time
    -On average the Nasdaq has loss -4.7% during March, 37% of the time
    -The biggest March gain was on 1999, when the Nasdaq finished up 7.58%
    -The biggest March loss was on 1980, when the Nasdaq finished down -17.10%

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