Chart of the Day - Thursday, February 16th, 2023
February 16, 2023
Today’s Chart of the Day was shared by SentimenTrader (@sentimentrader). Yesterday, Anthony Scaramucci revealed he was a closet technician when he shared this stat on Twitter. He pointed out that no prior S&P 500 bear market has made a new low after spending 18 consecutive days above its 200-day moving average. Many know Scaramucci for his brief stint as White House Communications Director under President Trump, but he's no stranger to the financial markets. Love him or hate him, his stat is correct according to SentimenTrader. Of the 11 prior instances since 1950, the S&P 500 has never been lower 3, 6, or 12 months later.