A 7-Day Winning Streak Is Bullish For S&P 500: This Historical Analysis Proves It
Portfolio Pulse from Piero Cingari
The S&P 500 Index has recently achieved seven consecutive sessions of positive gains. According to an analysis by Ryan Detrick, a 7-day winning streak for the S&P 500 has historically indicated above-average returns in the following months. However, the three most recent 7-day winning streaks in 2021 led to negative one-year returns. On average, since 1990, the S&P 500 has seen a 10.3% increase in the year following a 7-day winning streak.
November 08, 2023 | 8:37 pm
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The SPDR S&P 500 ETF Trust (SPY) could potentially see above-average returns in the following months due to the S&P 500's recent 7-day winning streak, based on historical data.
The S&P 500's recent 7-day winning streak has historically indicated above-average returns in the following months. As SPY tracks the performance of the S&P 500, it is likely to be positively impacted by this trend. However, the most recent 7-day winning streaks in 2021 led to negative one-year returns, which introduces some uncertainty.
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