Chart of the Day - Friday, July 2nd, 2021

Today’s Chart of the Day was shared on Twitter by Carter Worth (@CarterBWorth). The Nasdaq 100 just closed higher for the 7th consecutive week. Carter points out that the Nasdaq has only done this 17 other times since the inception of the index over 35 years ago. Of those 17 prior instances, the following week closed higher 82% of the time for an average gain of 0.89%, and a median gain of 0.68%. It certainly doesn't hurt that July has historically been a strong month for the Nasdaq. The markets will be closed on Monday for Independence Day. But if history rhymes, there's a good chance that the Nasdaq will close higher next week.