After similar moves, the S&P 500 has a 90% chance of doing this next...
| Using Kensho technology, CNBC will surface research and analytic insights designed to create actionable, historical content around market moving events. TECHNICALLY SPEAKING
After logging its worst month since December, the S&P 500 bounced back to kick off the month of June, jumping 4.4 percent, its best week of 2019. In doing so, the index crossed back above its 50-day moving average - a key technical level. Since 2009, the S&P has crossed above its 50-day moving average, on 10 other occasions (with a minimum of one month between episodes).
Two weeks after the S&P 500 crossed back over that key technical level, the S&P, Dow Jones Industrial Average and Nasdaq Composite all tend to trade consistently higher — each a positive trade 90% of the time. 
Among the top-performing sectors two weeks later: Industrials, materials and tech, all trading positively 90% of the time.  THE CHIP DIP OVERDONE? The slump in the semiconductor stocks has continued - this time, Broadcom led the group lower after a disappointing Q2 report - missing revenue expectations and lowering its guidance for 2019. In response the stock dropped over 7 percent on Friday. But according to history, similar one-day losses could precede strong gains for the chipmaker.
Over the past 5 years, shares of Broadcom have dropped by at least 5 percent in a single trading day, on four other occasions. After these drops, the stock tends to rebound hard - up an average of 8 percent a month later, trading positively 100 percent of the time.  THE SUMMER TAILWINDS As mentioned above, stocks kicked off June on a bullish note - month-to-date the Dow, S&P 500 and Nasdaq have each gained around 5 percent. A strong start as we head into a period that tends to be positive for stocks.
Over the past 5 years, the S&P has traded higher 80 percent of the time in the period between June and August, with an average return of 2 percent. The top performing sector ETFs during that stretch: Healthcare, Tech and Financials – each trading higher 80 percent of the time. 
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