NASDAQ 100's incredible streak
NASDAQ Composite's rally over the past few months has been incredible. Its 20 day moving average has been going up for 81 consecutive days now. This may not be one of the largest streaks for the NASDAQ Composite but it's the 3rd largest streak for NASDAQ 100 which we will look at later.
Historically, this was a clear bullish sign for the NASDAQ Composite over the long term though the returns were more mixed in the short term (1 - 2 weeks).
As mentioned above, this 81 day upward streak for NASDAQ 100's 20 day moving average is one of the highest levels ever seen for NASDAQ 100.
This was a bearish sign for NASDAQ 100 in the short term but bullish over the longer time frames (6 months - 1 year). However, take this with a pinch of salt since this has only happened twice before.