The Nasdaq 100 came close to breaking below its 50-day moving average this morning, but in afternoon trading things have bounced back a bit. In the charts below, you’ll see that the Nasdaq 100 has been above its 50-day moving average for all of 2017 so far; the last time the index closed below its 50-day was on December 6th, 2016 — 131 trading days ago. If the index manages to close above its 50-day once again today, the current 131-trading day streak will be the third longest in the index’s history. As shown in the second chart below, there have only been 7 prior streaks of 100 trading days or more.
In a B.I.G. Tips report just sent to paid research clients, we analyze how the Nasdaq 100 typically performs in the days and weeks after a streak like the current one comes to an end. To find out whether a 50-DMA break is a bearish signal or not, start a 14-day free trial to our Bespoke Premium package now. You’ll receive a 20% off lifetime discount along with the 14-day free trial if you use this checkout link. Here’s a breakdown of the products you’ll receive.