Pre-Fed – MarketTells.com

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With the Fed announcement on tap tomorrow, worth noting the S&P5000 touched a fresh 52-week high at today’s open. Historically, that’s not been a bad short-term development. Over 21 occurrences since 1990, the S&P’s performance over the following week was in-line with random odds (13 up, 8 down). One noteworthy point is that losses were consistently small. Average loss was only 0.4%, a third of the 1.2% average gain. This suggests a post-Fed selloff could prove to be a short-term buy heading into next Tuesday…

SPX 52wk High Ahead of FOMC Announcement
06/15/21… SPX ??? one week later
03/16/21… SPX -1.3% one week later
01/26/21… SPX -0.6% one week later
10/29/19… SPX +1.2% one week later
12/12/17… SPX +0.7% one week later
07/25/17… SPX -0.0% one week later
12/13/16… SPX -0.0% one week later
10/29/13… SPX -0.5% one week later
04/30/13… SPX +1.8% one week later
01/29/13… SPX +0.2% one week later
09/12/12… SPX +1.7% one week later
04/26/11… SPX +0.7% one week later
12/13/10… SPX +0.5% one week later
10/24/06… SPX +0.0% one week later
12/13/04… SPX -0.3% one week later
12/21/98… SPX +3.2% one week later
02/03/98… SPX +1.3% one week later
11/12/96… SPX +1.7% one week later
05/20/96… SPX -0.1% one week later
01/30/96… SPX +2.6% one week later
03/27/95… SPX -0.3% one week later
02/02/93… SPX +0.6% one week later