FYI: It’s been quite a run for the S&P 500 over the last several weeks, and the chart below illustrates just how consistent the equity market’s strength has been.
In The chart below , we show the S&P 500’s daily close relative to its 50-day moving average (DMA) where overbought levels are considered to be readings where the S&P 500 closes one or more standard deviations above its 50-DMA, while oversold levels are readings where the S&P 500 closes one or more standard deviations below its 50-DMA. As shown in the chart, ever since September, a period covering 42 trading days, the S&P 500 has closed at either an overbought or oversold level.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/longest-overbought-streak-for-sp-500-since-2012/
