Monday, July 11, 2016

S&P 500 All Time Closing High

The S&P 500 officially closed at an all time high today settling at 2,137.16. Coincidentally the new all time intra-day high is 6 points higher at 2,143.16. I bet many people weren't expecting new highs in the market with all the negativity going around, and the recent Brexit vote.  This seems to be the most hated stock market of all time.

Oddly enough if you bought at the June 27(post brexit) low of 1,991 you'd be up  7.3% for the year handily beating the S&P's 4.6% YTD gain.  Just goes to show how range bound we actually have been despite all the ups and downs. It even illustrates how tough it is to time the market. My guess is most people would not have been able to push the buy button that day. One more point is that many times most of the gains come in a short period. The rest of the time the market inches up like a snail.

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