Chart of the Day – Monday, March 25, 2024

100% win rate over the next six months, +6.8% median return. https://t.co/bIrDp8EvBj pic.twitter.com/yKbsplyilV

— Jason Goepfert (@jasongoepfert) March 25, 2024

Today’s Chart of the Day was shared by Jason Goepfert of SentimenTrader (@jasongoepfert).

• The S&P 500 hasn’t pulled back -2% on a closing basis since the Oct. 27th low.

• This has been the longest streak without a -2% decline in over five years, with Friday marking the 100th trading day.

• While this has only happened seven other times since 1950, Jason points out that the index has never been lower six months later, with a median gain of +6.8%.

The takeaway: The S&P 500 rarely goes 100 trading days without a -2% decline. This is a symptom of a strong underlying trend rather than a “calm before the storm.” History shows us that strength has often persisted even after the streak ends.