Three Amazing Streaks

“We’re going streaking!” Frank The Tank in Old School

As the bull market continues to make new highs, the past few weeks have seen some amazing market streaks. Here are three that have caught our attention.

  • The S&P 500 Index hasn’t had back to back losses for 29 consecutive days. As the LPL Chart of the Day shows, this is the longest such streak without back to back down days since March 2005. It is worth noting that the S&P 500 gained another 5.8% three months after the March 2005 streak ended.
  • The S&P 500 hasn’t closed below its 10-day moving average for 28 days in a row. In fact, this is the first year since 1979 to see two streaks at least this long during the same year. Additionally, the index has closed above its 10-day moving average an incredible 71.3% of all trading days this year. Going back 50 years, only 1995 and 2013 saw more.
  • The S&P 500 hasn’t traded in more than a 1% intraday range (from low to high) for 26 days in a row. Making this the longest streak in just over a year. In other words, volatility during this recent steady advance has been extremely low.

“The past few weeks have been one of the least volatile, yet persistently bullish periods we’ve ever seen,” explained LPL Financial Senior Market Strategist Ryan Detrick. “29 days in a row without the S&P 500 Index down back to back days, while the majority of those moves have been quite small sums it all up. It’s been a great run, but history says don’t get too comfortable, as the pendulum always swings eventually, and bigger moves are likely coming.”


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