Five Straight Up Weeks

The S&P 500 closed out its fifth-straight winning week. It’s quite early but we’re already in the black for #6.

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This is an unusually broad rally for the market. Within the S&P 500, 470 stocks are above their 50-DMA. The data exists on that since 2002 and it’s nearly a record. A total of 455 stocks in the index are above their 20-DMA.

Volatility has also chilled out. The VIX is back below 15. It was over 30 a little more than one month ago. The S%P 500 hasn’t had a 1% daily move for five straight days. Ryan Detrick notes that that is the longest such streak this year. We had 1% moves in 26 of the first 50 days this year.

Posted by on March 21st, 2016 at 10:08 am


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