Last year, the $SPY S&P 500 gained 16.4%. Miss the 10 best days and that flips to -12.0%. Six of those 10 days came in the April bounce, including +9.5% on April 9, the session after the low. That was the 3rd-best day for the index since 1990. Since 1990, the S&P 500 has averaged +10.0% a year. Miss the 10 best days each year and the average drops to -12.5%. The best days tend to show up right after the worst ones.
Donald DeanShare
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