The SPDR S&P 500 ETF Trust (NYSE:SPY) kicked off the month of October with back-to-back monster days, bouncing off of new 2022 lows in late September. In fact, the stock market just did something it hasn't done since 2013, and it could be a bullish sign for investors.
The Numbers: On Wednesday, Bank of America analyst Stephen Suttmeier said 90% of all NYSE stocks traded higher on both Monday and Tuesday of this week. The last time the NYSE had back-to-back 90% up days was Dec. 31, 2012, and Jan. 2, 2013. Suttmeier pointed out the S&P 500 went on to gain an impressive 29.6% in 2013 following that two-day rally.
