The S&P 500's strong 8.9 percent rise since January bodes well for the second half of the year, if history is any guide. The nearly 9 percent boost represents more than twice the average increase during the first six months of all years since 1946 and more gains typically follow such a strong start to a year.
"When the 500's first-half price gain was between 7% and 12%, the market "posted a positive H2 performance an above-average 87% of the time."
If the benchmark follows the historical trend, that would put it at 2,565 to end the year.
There was no sign of volatility in the market Monday, however, as the CBOE Market Volatility Index (VIX) fell below 10.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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