Where SPX Would Be Without The Fed

I have shown how powerful Fed Days have been a number of different ways over the years. Ever wonder where the market would be without them? The chart below shows the daily points gained and lost on every day since 12/31/97 through 3/18/14, excluding Fed Days. Keep in mind, there are only 8 days per year being left out.

2014-03-19 image2

As you can see, without Fed Days the SPX would still be about 15 points below the 2007 high, and close to 50 points below the 2000 high!

Thanks Fed!


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