My friend Jon Krinsky continues to crank out great weekly pieces at his new perch as Managing Director for Baycrest Partners…
The Nasdaq 100 has closed above its 200 DMA for 516 consecutive trading days. That is by far the longest streak since the index began in 1985. Of course, the magnitude of the advance (~68%) pales in comparison to the advances in the late 90’s, but the duration and steadiness is certainly quite impressive. While this would seem to suggest the advance is on its last legs, calling an end to one of the strongest bull markets in history is a uniquely difficult endeavor.
A Streak for the Record Books
Baycrest Partners – July 23rd 2018