Historic bull market: pay attention to the numbers!
Are we in the midst of one of the strongest bull markets in history?
It seems so, and the data is amazing:
The S&P 500 index has been trading for 106 consecutive trading days above its 50-day moving average!
This is the longest streak in the past year, and the fifth longest in the last three decades.
If the index continues this way for just five more days, it will enter third place of all time!
For comparison, the all-time record was set in 2007, when the index held for 149 consecutive trading days above this average.
$QQQ (the Nasdaq-100 index) is not far behind, it has been trading for 107 days above its 50-day moving average, the longest streak since 2017.
The current market momentum is almost unprecedented.
Buying power continues, volatility is low, and markets continue to show strength, but in such situations, caution is also important, as such streaks tend to be tested by time.
What do you think?
Is the market on its way to breaking new records? Or will we start to see fatigue?