The S&P 500 Index has defied historical expectations this September, showcasing remarkable strength and performance. As we delve deeper into the data, it becomes evident that this month has been a standout period for the market, with several key indicators pointing towards a sustained bullish trend as we approach the final quarter of 2024.
Surge in Outperforming Stocks
- The number of stocks outperforming the S&P 500 has reached its highest level since 2002.
- This surge in outperforming stocks highlights the robust market breadth and overall strength of the market.
Key Charts Illustrating Strong Momentum
Chart 1: S&P 500 New All-Time Highs
- The S&P 500 has achieved an impressive 42 new all-time highs in 2024, with three recorded in a single week recently.
- This chart emphasizes the index’s exceptional performance this year, surpassing historical trends for September.
Chart 2: Positive Weeks
- The index has seen 35 weeks of positive returns over the past year, showcasing strong market momentum.
- This resilience indicates a bullish trend in the market.
Chart 3: Stocks Outperforming Index
- The proportion of stocks outperforming the S&P 500 is at its highest level since 2002, signaling a broad-based market strength.
Chart 4: Disinflation Trends
- Year-on-year disinflation rate has shown a modest decline, affirming the persistence of disinflationary trends.
Chart 5: Labor Market Dynamics
- Visual representation of labor market data since September 2021 shows a quick decline followed by nearly three years of sideways movement, dispelling fears of significant deterioration.
Bottom Line
The current bullish trend is undeniable and presents an opportunity for investors to critically evaluate their perspectives on the market. It is crucial to consider the sources of information and opinions that influence investment decisions. If someone has consistently been wrong in their bearish predictions, it may be time to reassess their credibility.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice. Readers are advised to conduct their own research and consider the risks associated with investing in financial assets. All investments carry inherent risks, and investors should exercise caution when making decisions in the market.