Streaks Are Meant To Be Broken… On the heels of the S&P’s first 4-day win streak since February (and a new all-time high for NDQ), it seems today’s “breather” isn’t ruffling too many feathers (especially as indices now head back toward positive territory). After all, a pause seems reasonable given the last 50 days have seen the S&P sprint +37% higher, the best 50-day pace in the index’s history. And history would indicate things might only be getting started: looking at the other largest 50-day rallies, the average S&P return 1-year later +17%.
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