Yesterday, I mentioned the market’s longest streak without at least a 0.6% daily decline came to an end at 99 days. I titled that post “Volatility Update #1″ because I figured more would follow. Sure enough, record streak #2 has now ended just one day after the first.
The market, until today, was on an almost 200-day streak without any back-to-back declines of at least 0.25%. With the S&P 500 losing 0.67% yesterday and 1.09% today, we can now hang that record in the market hall of fame. The most recent streak lasted over 50% longer than the previous record set in the mid-1960s. Just like yesterday’s record, I believe this one may stand for many decades as well.
This leaves one more streak I’ve been writing about in tact…for now.
- Longest streak in history without a 5% correction
When will this one come to an end? Look for Volatility Update #3 before year-end and, maybe, even before the first quarter is over.