The S&P500 has traded up 14 of the past 16 days, which has happened only seven times in the past twenty-five years. Dismissing the streaks, it has only happened twice. Bespoke, who does great work and to whom we subscribe, beat us to the punch.
Nevertheless, don’t look for the market to rollover just yet. History is not on your side. In fact, the 5-day post streak return was .74% in “sell in May” 1990 and 1.38% in September 1995, both poor seasonal months. We’re overbought, but Santa Claus is coming to town.