by Bespoke Investment Group
We've gotten quite a few requests over the past few days to compare the S&P 500's price chart in 2010 to this year's price chart. Last year, the S&P 500 made its pre-correction high in late April, and it wasn't until Bernanke's Jackson Hole speech in late August that the market broke out of its summer funk. As shown below, the S&P 500 also made its pre-correction high in late April of this year, and we've at least seen a short-term bottom at the end of August right around the time of this year's Jackson Hole speech. In 2010, the S&P 500 was down 3.12% on September 1st, and it closed the year up 12.8% after pretty much going straight up over the last four months of the year. As we enter this September, the S&P currently sits down just under 3%. If history repeats itself, the country will surely end the year in a much better mood than it's in now. Don't expect the market to be that easy though!
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