The S&P 500 recently notched a winning streak of week-over-week gains for seven consecutive weeks, a rare technical market signal that points to massive potential gains over the next twelve months.
Historic Bullish Signal
Historical data shows that in the last three instances this setup occurred—in December 2023, March 1998, and June 1997—the index surged 28.2%, 21.1%, and 23.0% over the following year, respectively.
On average, the S&P 500 advances a robust 15.7% a full 52 weeks after flashing this rare seven-week signal. According to Ryan Detrick, Chief Market Strategist at Carson Group, the recent seven-week streak where the index rose more than 10% is exceptionally powerful.
“The last three times we had a 7-week win streak for the S&P 500 that was up more than 10% saw stocks up more than 20% a year later each time,” Detrick noted.
Highlighting the 100% historical win rate of this technical setup, he added, “In fact, never lower a year later looking at all seven prior instances. I’d file this in the good news file.”
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