Chart of the Day - Thursday, May 1, 2025

🏆  Today's Chart of the Day was shared by @SubuTrade.
 

• The S&P 500 has closed higher for eight straight days, gaining +8.7%. This was its first eight-day win streak since November, and another gain tomorrow would be the first nine-day win streak since 2004.
   
• The index closed above its 50-day moving average today for the first time since February. However, it remains -2.5% below its falling 200-day moving average. 
   
• @SubuTrade notes that when eight-day win streaks have occurred below the 200-day moving average, returns over the next month have historically been weak, up just 50% of the time with an average loss of -3.1%.
   

The Takeaway: The S&P 500 has rallied for eight straight days, and another gain tomorrow would mark its longest win streak in over two decades. However, the next month has historically been weak when eight-day win streaks have occurred below the 200-day moving average.