FYI: he S&P 500 came extremely close two times today, but came up short of taking out its all-time high of 2,193.81 seventy trading days ago back on 8/15. The third time was the charm, though, as the index just took out its summer high, ending a streak of 69 trading days without a new all-time high. Believe it or not, since the S&P 500 ended a streak of 1,382 trading days without a new high back in April 2013, the most recent streak of 69 trading days was the second longest streak the index has gone without making a new all-time high. Back in July, when we broke the streak of 287 trading days without a new high, there was optimism that it would mark an end to the range-bound trading we have seen since early 2015, but that rally quickly fizzled. Interestingly enough, it was the uncertainty of Donald Trump that contributed to the sideways trading leading up to the election, and now it’s also seemingly the Trump election that provided the catalyst to finally break us out of this most recent streak.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/streaks-without-a-new-all-time-high/
