30 Straight Days Above the 10-DMA

Here’s a fascinating factoid I found via Sentiment Trader via ZeroHedge via Pragmatic Capitalist: The S&P 500 has closed above its 10-Day Moving Average for the last 30-straight trading sessions.

That’s the longest streak since a 42-day run from February to April 2010. The longest I can find (my records go back to the 1930s) is a 59-day streak from November 1970 to February 1971.

We’re about 15 points above the 10-DMA which means that this run may have some room to go, especially if volatility stays so low.

Part of this, I think, is due to the market’s ultra-low volatility combined with a slow-motion rally. The S&P 500 has closed higher for 21 of the last 30 days and for 43 of the last 67 days.

Posted by on January 13th, 2011 at 1:24 pm


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