While the headlines have indeed been volatile thus far in 2017, the U.S. stock market has been anything but. The S&P 500’s largest drawdown year-to-date has been a measly 2.8%! While applying that percentage to the Dow would be -600+ points, in the historic scheme of things, make no mistake, that’s measly!
Per the below, courtesy of Bespoke Investment Group, the average first half of the year max drawdown between 1928 and the present is 11.2%, followed by a decline of 12.2% during the second half (the numbers in black (next to those in red) represent the average return for the period):
Sure, it’s nice to see the market going up with little resistance, but, please, understand, this isn’t remotely the norm…