S&P 500 Backed by Most Momentum Since 1986: Technical Analysis

U.S. stocks almost have the most momentum since 1986.

The 14-day relative strength index for the Standard & Poor’s 500 Index has exceeded 65 since March 5, the longest stretch since 1995, according to data compiled by Bloomberg. Today would mark the 27th consecutive day, the most in 24 years.

RSI identifies possible turning points by measuring the degree that gains and losses outpace each other. While readings of 70 or more are considered evidence that an index may decline, the current streak suggests investors are reluctant to sell, making a collapse unlikely, said Joseph Keating. (more)