At today’s close fully 60% of the Trump Bump in the S&P 500 has been liquidated. And we have some nice round numbers to show for it.
The broad market index stood at 2140 just hours before the shocking 2016 election results were reported, and rose by 800 points from there to 2940 on September 21, 2018. That was a gain of 37% on top of the already massively inflated stock market than extant.
It was also Peak Trump. During the last 40 trading days 475 S&P points have gone missing in a relative heartbeat, and there’s miles to go before it’s over.