This chart shows a move for the S&P 500 that has occurred only 16 times in the past 70 years -- here's what it could mean for stocks: h/t ciovaccocapital
However, the persistent, tit-for-tat Sino-U.S. tariff dispute that has underpinned a recent bout of volatility in stocks may matter much less than Wall Street thinks, per our chart of the day, provided by Chris Ciovacco, founder and chief executive officer of Ciovacco Capital Management.
In all 16 other times throughout history that this unusual signal has shown up, the S&P 500 saw an average gain of 29% and a median gain of 26% two years later, he said. If in doubt, he suggests checking out the latest wisdom from Berkshire Hathaway’s BRK.A, -0.58% BRK.B, -0.60% Chairman Warren Buffett, who was sounding upbeat on stocks earlier this month. “Do you hear him walking around saying it’s time to run for the exits?” said Ciovacco.The market The Dow DJIA, -0.29% , S&P 500 SPX, -0.25% and Nasdaq COMP, -0.40% are down at the start of trading. Read Market Snapshot for more.
“While we see some parallels to electric vehicle companies’ disruption of the car industry, we believe that the ultimate market opportunity for plant-based protein is potentially even larger given the mainstream appeal of affordable food products relative to the current highend, niche audience targeted by electric vehicle manufacturers,” says a team of analysts led by Benjamin M. Theurer, in a note to clients.
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