Chart of the Day - Monday, January 27th, 2020

Today’s Chart of the Day was shared on Twitter by Ryan Detrick (@RyanDetrick). It's a chart of the S&P 500 going all the way back to 1928. The orange indicator marks the number of trading days without back-to-back losses. Ryan points out that the S&P 500 hasn't posted back-to-back losses in 30 trading days...until today. He adds that this 30-day streak ties for the longest streak since 1955. Today also marked the end of a 74-day streak without a daily decline of 1% or more. While many are attributing today's sell-off to the coronavirus, it's important to keep in mind that the market has been relatively quiet over the past 3-4 months. In other words, it would've been unusual if the S&P 500 continued higher without experiencing some downside volatility.