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Institutions: Super Month for US Stocks Coming to an End, August May Face Profit-Taking
Summary: According to reports from Jinshi, market research firm SentimenTrader stated that the US stock market is about to end one of the hottest Julys in history. In this month, the S&P 500 index has hit historical highs 10 times (the third best July performance since 1928), while the NASDAQ Composite Index has hit historical highs ...
According to reports from Jinshi, market research firm SentimenTrader stated that the US stock market is about to end one of the hottest Julys in history. In this month, the S&P 500 index has hit historical highs 10 times (the third best July performance since 1928), while the NASDAQ Composite Index has hit historical highs 14 times. Such a super month is rare in the summer, and historical data shows that after experiencing a similar surge in July, August becomes challenging.
Historically, when the S&P 500 index hits at least 7 multi-year highs in July, the probability of it rising in August is only 36%, with less than half the probability of rising in the following two months. The NASDAQ Composite Index has shown more resilience, usually rebounding strongly after 4 months, but August still feels like a gamble.
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Link: Institutions: Super Month for US Stocks Coming to an End, August May Face Profit-Taking [Copy]
