A Couple Of Interesting Notes

I had to rearrange my schedule today.  Charlie Bilello of Pension Partners has an interesting Twitter feed.  Here are some statistics he's noted about this current rally.  

* The S&P 500 has not traded 3% below its all-time high for 242 consecutive days, a new record.

* The S&P 500 has not crossed below its 200-day moving average since June 2016, the 7th longest run in history.

* 4.9% is the maximum intra-year draw down for the Nasdaq 100 some far this year.  If that holds it would be the lowest in history.

* We are on pace for the least market volatile October and least market volatile month in history.

* If the S&P 500 ends this month higher then it will have recorded 12 straight months notching higher gains.  That would tie it for first place along with June of 1949-May of 1950 and April 1935-March 1936.

Charlie does excellent statistical work and you might want to check out his twitter page here.  You can make arguments for the data in a couple of ways.  One way is to note the power of the current bull market, which currently shows no signs of abating.  BTW a pull-back or even a breaking of some of these statistical streaks wouldn't necessarily end the bull streak we've been on.  The bears could point to all these statistics and argue that these sort of things undoubtedly will lead to a correction at some point.  On that they are correct but they don't know the when or from what starting point it might occur.

One thing both sides can agree on is the power of this current market move since last November and the subsequent collapse we've seen this year in volatility.  At some point, irregardless of where we stand in the market cycle, volatility will return.

Back Thursday.

*Long in certain client and personal accounts positions related to the S&P 500 and the Nasdaq 100.  Short S&P 500 in a personal account as part of a separate individual strategy.  Positions can change at any time without notice on this blog or via any other form of electronic communication.