This podcast (link below) really puts Wednesday's huge market rally in perspective. The biggest 1-day performances all normally occur in bear markets – they are known as bull traps. You only need to listen to the first few minutes to get the story.
Nasdaq Wednesday 9 April – 3nd best day in history 12.03%
5th best 1-day performance Nasdaq – 28 October 2008 - 10.9% - but it kept going a lot lower and bottomed in March 2009
4th best 1-day performance Nasdaq – 5 December 2020 – 11.68% - it then continued to fall a lot further
2th best 1-day performance Nasdaq – 13 October 2008 – 12.58% - but it kept going down a lot more
1th best 1-day performance Nasdaq – 3 January 2001 – 18.77% - but it kept going down a lot more
Ditto for S&P - What do you think is going to happen to US stock indices over the rest of this year? And what will happen to POG?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)