180 Straight Days Above the 150-DMA

Daily volatility continues to be pretty meager this August. The stock market is currently down, but just a bit this morning. The government reported that retail sales rose by 0.2% last month, which is the fourth monthly increase in a row. Economists were expecting an increase of 0.3%. The increase for June was revised higher by 0.2% to 0.6%.

Despite the headline miss, the details were pretty good. If we look at “core” retail sales, which doesn’t include cars and gas, that rose by 0.5% in July. That’s the biggest since December. Clothing stores saw their sales rise by 0.9% last month, which bodes well for stocks like Ross Stores ($ROST).

Steven Russolillo at the WSJ highlights an interesting factoid: The S&P 500 has traded above its 150-day moving average for the last 180 days. That’s the ninth-longest streak since 1980. I think this is due to the market’s slow, steady upward crawl combined with the low volatility. The index is currently about 6% about its 15-DMA.

Posted by on August 13th, 2013 at 11:02 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.