(Bloomberg) -- Futures on the S&P 500 Index were up over 3% prior to the beginning of trading on Tuesday. For market-minded data geeks, that rebound should come as no surprise.
Prior to Monday's steep decline, the S&P 500 had plunged by 5% or more to start the week on nine occasions since 1955. On each of the following Tuesdays, the benchmark bounced back by 2% or more, data compiled by Bloomberg show.
Of course, why is anyone's guess. It could be a mere statistical fluke. Or perhaps, a reliable reaction to Monday trading incorporating all the pent up fear of not being able to move positions over the weekend.
But if today's early trading is any indication, the streak will keep on rolling.
To contact the reporter on this story: Brandon Kochkodin in New York at bkochkodin@bloomberg.net
To contact the editors responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net, Michael Tsang
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