The chart below is a log chart of the S&P500 going back to 1994. This shows that the market very often peaks during July (i.e. Q2 reporting season).
=> Perhaps that's when the market wakes up and realises that the earnings do not justify the high share price.
The chart below is a log chart of the S&P500 going back to 1994....
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Last
7,777.7 |
Change
95.700(1.25%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,682.0 | 7,795.1 | 7,682.0 |
| XJO (ASX) Chart |