S&P 500 Index - Persistence above the 20-day moving average suggests further Upside

S&P 500 Index - Persistence above the 20-day moving average suggests further Upside. We note that the S&P 500 Index has closed above its 20-day moving average for the 30th consecutive session. Historically, this type of upward trend persistence rarely encountered downward pressure over the next 10 to 40 trading days. Since 1980, the S&P 500 Index has produced 30 consecutive sessions above its 20-day moving average on 37 independent (non-overlapping) occasions. Surprisingly, the S&P 500 Index was higher 20-days later on 31 occasions (84% win rate) delivering an average return of 1.85%. Full data analysis & tables can be viewed at (VIEW LINK)