Nasdaq surge is one for the record books

After falling to a 52-week low on Monday, the Nasdaq Composite has surged at least 2.5% on consecutive sessions. In the index's 50+ year history, this kind of behavior has triggered 5 other times, 4 of which marked mutli-year lows. That failure in 2008 was a major outlier, however. It was also the only signal to exceed a 5% drawdown within the first 2 weeks of the back-to-back surge.