Let's look at what the the S & P 500's first half taught us about the chances for more gains in the second half. The S & P 500 just logged its third straight quarterly advance and its sixth in the last seven. The last longer quarterly win streak was seven in a row from Q2 2020 through Q4 2021.
That was quite a run, but not compared to the late 90s . From Q1 1995 through Q2 1998, the S & P 500 was up 14 straight quarters. This shows, once again, how trends can extend longer (sometimes much longer) than we think they can.
That was a unique time, but many astute market observers believe the current Technology surge is a lot like the late-90s. However, there's a lot of disagreement about what stage we're in. Some think we're in the early innings, while others think we're closer to the end than the beginning.
Four key factors The point is that we can believe whatever we want, but the market will tell us if we're right or wrong. And we better pay attention to it. Fortunately for us, the price action eventually morphs into recognizable trends and patterns on the charts.
And through the first half of 2024, that has kept us on the side of the uptrend. Below are four important factors we're continuing to watch closely into the year's second half. 1.
Successful Bullish Patterns We heard a lot about the strong gains in the S & P 500's first six months over the last few days, but here's the scorecard we care most about: Number of successful chart patterns: Bullish: seven Bearish: zero Thi.
