Turnaround Tuesday? Stocks tend to bounce back quickly from market drops like this one

The major averages all slid more than 3% on Monday as the growing number of reported coronavirus cases outside of China rose.According to Bespoke Investment Group, since March 2009 the S&P 500 has fallen more than 2% during a Monday session 18 other times, and that in 15 of the prior instances the index rose the following day, for an average gain of 1.02%.

Monday's trading session was a bloodbath for the market as all major indices slid more than 3%, but if history is any indication, Tuesday might prove to be a different story entirely., Monday was the 19th time the S&P 500 has shed more than 2% on a Monday, going back to March 2009. In the prior instances, following a hefty slide the index has, on average, returned 1.02% the next day as these drops have "historically been bought with a vengeance in the near term," the firm said.

Bespoke found that in 17 out of the 18 prior instances the S&P 500 also had a positive return over the subsequent week, with an average gain of 3.16%. Over the next month, there was an average gain of 6.08%.

But the virus doesn’t care.

Let’s hope

This a buying opportunity. It was just an excuse for overbought market being pumped & fueled by $ billion monthly from Fed since Sept. 2019. It's just like a rubber band. It will snap back shortly. BUY.

My momma always told me sell high buy low. She also says, hard worker get luckier. Mostly she said that while she slavedrove me. She’s German. My momma is an accountant by education and a fund manager by career.

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