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Chart Of The Day - S&P500 Monthly Chart
The July results are in, S&P500 up +3.11% on the month...
S&P500 Monthly Chart: Another month, another move onwards and upwards. The S&P500 chalked up its 5th consecutive monthly gain at 3.11% in July 2023. Here’s some quick stats following the close:
As of the close on 31 July 2023, the S&P500 is up 19.5% YTD (20.7% in total return terms i.e. including dividends). The equal-weighted version however is only up 9.5% YTD (trailing the cap-weighted by a full 10%!). And for reference, the S&P500 is now up just over 28% off the October 2022 low.
As noted, the positive return in July is the 5th in a row, and the index remains above its 10-month moving average (which it has consistently been so since January), and the 10-month average itself has ticked higher across the last 4 months — overall a very clear uptrend.
As a point of comparison, the 3.11% monthly gain in July for the S&P500 stands in contrast to 3.35% for the equal-weighted, 4.05% for the Nasdaq Composite, 3.35% for the Dow, and 6.06% for the Russell 2000.
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