Two weeks of (kind of) big moves

After a period of relative stability, the S&P 500 has moved at least 0.5% each day for the past 11 sessions, as noted by strategist Callie Cox. When stocks have rallied and then start to swing, the old market cliche is that it's a sign of a trend change. Below, we can see every time something similar occurred. It did not precede anything bad over the next 2-3 months, but those longer-term returns weren't great.