Here's how markets move a day after being up 4%

On Wednesday, the S&P 500 index (INDEX: .SPX) was up 3.9 percent. So we wanted to see what happens the day after a move that large. Since 1978 the SPX has seen a gain of 3.5-4.5 percent on 38 different occasions; Wednesday was the 39th time it happened. In the previous 38 circumstances, the market was basically a coin flip the next day. Here are the stats: +4.03% best day -5.27% worst day ...