Posted: 03 Nov 2020 02:15 PM PST
Historically speaking, November has a solid reputation for gains over the long-term and during the last 21 years. Since 1950, November is the best month of the year for S&P 500 and Russell 1000 (since 1979). It is also the second-best month for DJIA, NASDAQ and Russell 2000. Rankings have changed modestly during the last 21 years. S&P 500 and Russell 1000 slip to fourth best while DJIA and NASDAQ remain second best. Russell 2000 November performance improves to number one.
In the above chart, with just two trading days recorded so far, Russell 2000 is already off to a strong November, up 4.9% as of today’s close. DJIA, S&P 500, NASDAQ and Russell 1000 are also off to above average starts so far. Strength at the start of the month and in the later days of the month is well defined above. Trading days five through fourteen have historically been weaker.