Nasdaq's streak, even if it ends, may be a bullish sign for the broader stock market, strategist Ryan Detrick says.
div > div.group > p:first-child"> The tech-heavy index is down 2 percent since Monday, coming off its longest weekly winning stretch since December 1999. That run preceded the dot-com bust just months afterward, a wave of selling that swept tech stocks from highs.
In the past eight 10-week win streaks for the Nasdaq, the index was up an average 4.4 percent in the following 12 months. Stripping out the 2000 dot-com bust, the Nasdaq was up an average 10 percent in the 12 months afterward. "These streaks that we're talking about really do suggest to us that this bull market is alive and well and new highs in the S&P and Nasdaq in the second half of this year," said Detrick.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nasdaq could snap longest win streak since dot-com bust, but that's not a bad thingThe Nasdaq is set to post its first negative week after being up 10 weeks in a row, its longest win streak since the dot-com bust. via TradingNation
Read more »
Shanghai Stock Exchange says China's planned tech board now in 'sprint stage'China's proposed Nasdaq-style technology board has entered a 'sprint&q...
Read more »
Ryan Adams’ UK and Ireland tour canceled after allegations of sexual misconductRyan Adams’ tour of the United Kingdon and Ireland, set to launch March 30, has been canceled after allegations of sexual misconduct by the singer-songwriter that surfaced last month.
Read more »
Spokesman for former House speaker Paul Ryan to lead Hogan’s communications officeMichael Ricci joins the Maryland governor’s administration next week as its director of communications.
Read more »
Ryan Adams' U.K. tour is canceled following sexual misconduct allegationsThe news of Adams' canceled tour follows Universal Music Group's decision to halt the release of his forthcoming album 'Big Colors.'
Read more »
Ryan Adams cancels UK and Ireland tour after allegations of internet relationship with minorRyan Adams' upcoming UK and Ireland tour has been canceled after allegations the US rock singer had an inappropriate relationship over the internet with a teen girl beginning in 2013
Read more »
Alabama man suing abortion clinic on behalf of his girlfriend's unborn fetusRyan Magers claims he pleaded with his girlfriend to not have the abortion.
Read more »
Stocks set to open lower | Jobs Friday is here | China supports HuaweiFutures are pointing to yet another lower open for stocks, as the Dow, S&P 500, and Nasdaq finish what's tracking to be their worst week of 2019.
Read more »