The S&P 500 has ended its significant streak of trading days above the 50-day moving average (DMA), marking the first closure below this threshold in 110 trading days, the longest since 2011. This event coincides with the index and other major indices like the Nasdaq, S&P 400 Mid Cap, and Russell 2000 all closing below their respective 50-DMAs for the first time since September 2021. Historically, when the S&P 500 has ended similar streaks, it has generally seen an increase in value three and six months later. However, the index is currently experiencing a notable downturn, with consecutive declines marking its longest losing streak since January, and is now in oversold territory for the first time since 11/1/23.
Live news: US stocks notch first 4-day losing streak since start of January https://t.co/ISDNaQXeap
Stock market today: S&P 500 hits 4-day losing streak as tech stocks weigh down market https://t.co/e9mwFwdZJE
S&P 500 SUFFERS ITS LONGEST SLIDE SINCE JANUARY - US MARKET WRAP https://t.co/L9G4fFJFJc
Stocks fall as S&P 500, Nasdaq see longest stretch of daily losses since January https://t.co/9skOLJkXoC
The S&P 500 is on pace to close at least half a percent below its intraday high for the fourth day in a row. The only other time that has happened since the start of 2023 was the four days ending 10/23/23.
The S&P 500 is now oversold (>1 st. dev. below 50-DMA) for the first time since 11/1/23.
The S&P 500 $SPY and NASDAQ 100 $QQQ are both currently on pace for their 4th Red 🔴 day in a row which would be its longest losing streak since early January
$SPX If markets close red today, it will be the first 4 consecutive red day streak of 2024.
Yesterday the S&P 500's RSI 14 fell below 40 less than 20 trading days from a 52-week high. 21-days later, price has been higher almost 70% of the time, however there was a massive drawdown of 30% after the February 2020 signal. See the chart for details. https://t.co/QcWH8LCBTO
Excluding the streak that ended yesterday, there have been 9 other times in the last 50 years when the $SPX spent +100 days above its 50SMA. Here's how the index performed following the end of each of those streaks: https://t.co/5aBkASghro
"First $SPX close below the 50SMA since Nov 3. Ends the longest streak since > 50SMA since Feb 2011". - @dailychartbook https://t.co/F3FjxFUQib
Yesterday was the first time in 110 trading days that the S&P 500, Nasdaq, S&P 400 Mid Cap, and Russell 2000 indices all closed below their 50-DMAs. That was the longest streak since September 2021. https://t.co/8TsTi4F1YM
Global stocks are nearing 'oversold territory' amid the sell-off https://t.co/23dRHp86SS
First close beneath the 50-day MA for the S&P 500 in 110 trading days, longest since 2011. Looking at when streaks over 100 days ended showed stocks were higher 3 mos later 88% of time and 6 mos later 81% of time. A warning? Maybe, but maybe not. https://t.co/kFuB2G5gbo
One of the longest streaks for the S&P 500 above its 50-day moving average ended today. What happened following the end of previous long uptrends... https://t.co/QYD8tBQj3z https://t.co/RdF7DuQspl