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Institution: US Stock Market's "Super Month" Coming to an End, August May See Profit-Taking
BlockBeats News, July 31st. Market research firm SentimenTrader stated that the U.S. stock market is about to conclude its hottest July ever. In this month, the S&P 500 index has hit a historic high 10 times (making it the third best July performance since 1928), while the Nasdaq Composite index has hit a historic high 14 times. This "super month" is rare in the summer, and historical data shows that after experiencing such a surge in July, August tends to become 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 greater resilience, usually staging a strong rebound 4 months later, but August still feels like a gamble. (Jin10)
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