The NASDAQ has gone up for 8 days in a row for the first time since October 2017. Some people see this as “exuberance has returned to the stock market, particularly in the tech sector”. It isn’t.

Here’s what happens next to the NASDAQ when it goes up 8 days in a row for the first time in half a year.

Here’s what happens next to the S&P 500 when the NASDAQ goes up 8 days in a row for the first time in half a year.

Click here to download the data in Excel

Conclusion

As you can see, the NASDAQ going up 8 days in a row is not a short term, medium term, or long term bearish factor for the stock market. If anything, it’s a neutral-bullish factor for the stock market.

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By Troy Bombardia

BullMarkets.co

I’m Troy Bombardia, the author behind BullMarkets.co. I used to run a hedge fund, but closed it due to a major health scare. I am now enjoying life and simply investing/trading my own account. I focus on long term performance and ignore short term performance.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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