About a month ago I showed how the S&P 500 has performed following days where the market dropped 5% or more. In most cases such a strong reaction was an overreaction and the market closed above the close of the 5% drop day shortly thereafter.

Since I showed that table a month ago we have had SIX more 5% drops. Five of the six saw the same pattern with some kind of bounce in the next few days. Below I’ve updated the table which lists all 5% drop days and whether they closed above the 5% drop day close in the next week.