There have been no shortage of memorable moves in the market this summer, but one that ranks up there concerns the Nasdaq. Since the two-day 6.5% decline following the Brexit vote in late June, the Nasdaq has gone 37 trading days now without posting back to back daily declines. In the Nasdaq’s history dating back to 1971, there have only been seven other periods where the Nasdaq went longer than 35 trading days without back to back declines and the current streak of 37 ranks as the longest since December 2004! If the Nasdaq can go three more trading days without a two-day losing streak, it will be the longest streak since 1978!
In today’s Chart of the Day, which was sent to paid subscribers we looked at prior periods where the Nasdaq went a similar amount of time without a two-day losing streak and calculated the index’s returns going forward. To see the report, please start a 14-day free trial to Bespoke’s paid research below.