traders work on the trading floor at the new york stock exchange nyse in manhattan new york city us may 20 2022 the sp 500 is on the verge of doing something it hasnt done in at least two decades according to susquehanna chris murphy susquehannas cohead of derivatives strategy noted that 97 of sp 500 stocks are up for the third time in the past five trading days if that holds through the close it would be the first time since at least 2000 that the broader market index has seen such strength at the stock level investors watch the 97 marker because the index typically pulls back after a day with that percentage of its components up murphy said he also noted that monday marked the first time since aug 25 2015 that 97 of sp 500 components were up in two of the previous five trading days after that the sp 500 rebounded about 13 before making a new low six months later he said the relief rally seen this week follows a difficult last month and quarter for the stock market as the major indexes slid and jittery investors grew increasingly concerned about the federal reserves interest rate hikes and the probability of an incoming recession through the weeks first two trading sessions the sp 500 is up more than 5 on track for its biggest twoday gain since 2020