S&P 500 futures are 1 point higher today and Nasdaq futures are also higher.
Yesterday, they capped of an eight-day rally that's added about 8%. The last time the S&P 500 climbed for eight days in a row was November 2023. That was capped by a decent decline on the ninth day and then a non-stop rip into year end.
Bespoke highlights how rare eight day winning streaks have been for both the SPX and NQ.
“Concurrent streaks of eight or more days in a row have been [uncommon] with just 15 since 1971, or about one every four years.”
One of the all-time greatest winning streaks was in March 2010, when the S&P 500 gained for 14 days in a row coming out of the financial crisis. Those gains ultimately proved fleeting as they all evaporated (and more) by June.
