The stock market may be like that box of chocolates where you never know what you're going to get, but if year-to-date performance on Valentine's Day is any indicator, equities could be headed for a positive year.
The S&P 500 was up 7.7% year to date Tuesday, a bullish sign for the rest of 2023, Carson Group Chief Market Strategist Ryan Detrick tweeted after the close Tuesday. When the index is up 7.5% or more year to date on Valentine's Day, it has ended the year higher 90% of the time since 1950, he noted.
"In fact, the rest of the year was up nearly 11% on avg and higher 90% of the time. Only 1987 saw red returns," Detrick tweeted.
The market strategist posted a chart showing results for 10 years in which the S&P 500 was up more than 7.5% year to date on Feb. 14, with performance for the rest of 2023 remaining unknown.
Pictured: Ryan Detrick
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