Hickey and Walters (Bespoke) submit: Yesterday, we highlighted that the S&P 500 had been up 5 days in a row, yet this was not such a bad thing for stocks since the market tends to continue higher in the days following. The market did continue higher, and the S&P has now been up 6 consecutive days. We ran the numbers again and found that the average performance for the following day is actually higher.
A six-day winning streak for the index has happened 213 times since 1927, and the average change on the 7th day is 0.09%. The average change over the next 5 days is 0.34%.