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Tech's back-to-back streak

Jason Goepfert
2020-07-24

One of the most widely-cited stats in recent days has been about tech's streak of more than two months without suffering back-to-back losses. That was snapped on Friday. Using a proxy for the sector back to 1926, this streak of 49 days ranks as the 2nd-longest of all time, next to one that went 52 days ending in March 2012. Once streaks longer than 30 days finally ended, it didn't mean much. Tech's returns going forward were almost perfectly in line with random. This kind of thing has proven to be maybe interesting, but not especially useful.

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