For 29 days – off the Bullard lows – the S&P 500 closed above its 5-day moving average. As MKM’s Jonathan Krinsky noted last week, this is the longest streak of sustained equity momentum higher in the history of US markets (surpassing the previous record 27 days from 1928). Today (well techncially Friday’s early close) saw that streak come to an abrupt end…
The outcome post a reversal is mixed:
h/t @ReformedBroker and @JKrinskyMKM
