Is the bull market stable again? The S&P 500 has closed above the 20-day moving average for 60 consecutive days
The S&P 500 has closed above the 20-day moving average for 60 consecutive days, the longest streak since 1998. This has occurred 4 times in the past 50 years, and each time the index has inevitably risen 3 months later, with an increase of 20% to 26% after one year. Ryan Detrick, Chief Market Strategist at Carson Group, stated that this is another clue that the current bull market is gaining traction
The S&P 500 index has closed above the 20-day moving average for 60 consecutive days, marking the longest streak since 1998. This has occurred 4 times in the past 50 years, and each time it has happened, the index has inevitably risen 3 months later, with an increase of 20% to 26% one year later. Ryan Detrick, Chief Market Strategist at Carson Group, stated that this is another clue that the current bull market is gaining traction.
