The S&P 500 is up an impressive 0% this year

The S&P 500 is up 9% from its September low of 1,887. The index is right around 2,058, which is exactly where it began the year.

In other words, the S&P 500 is up 0%.

But, hey; it ain’t down. And that’s impressive considering someof the recent turbulence we’ve experienced.

“Resilience in equities is a positive,” Fundstrat’s Tom Lee writes.

Things that were supposed to happen didn’t happen as things that no one saw coming did. In case you missed it, here are some highlights:

“[W]e can understand why investors are sceptical today, given the magnitude of challenges and issues facing investors in the past year,” Lee writes. “[T]he negative news flow was concentrated during the 50-days between mid-August and early October. And notice how equities have since shown remarkable resilience.”

Lee’s got a 2,325 price target for the S&P 500.

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