A key U.S. stock index has remained above its 20-day moving average, underscoring the market’s resilience.
Japan is also in focus Wednesday after reaching a tentative trade agreement with the U.S., while speculation swirls over whether its prime minister will soon depart.
The tariff news has fueled optimism heading into the Aug. 1 deadline — a date even President Donald Trump and Treasury Secretary Scott Bessent suggest is flexible.
Carson Group’s chief market strategist, Ryan Detrick, points out a striking milestone: The S&P 500 (SPX) has now closed above its 20-day moving average for 60 straight sessions.
Aside from a brief scare on June 20, the streak has remained unbroken. Historically, runs this long have occurred only four times since 1950, with average gains of 20% to 26% in the year that followed.
Detrick’s analysis shows eight similar streaks overall, but this marks the first instance in the 21st century. While one exception in 1965 saw the market decline a year later, the typical outcome was a median gain of 10.4% and an average gain of 9.2%.
“This is yet another clue this bull market still has legs,” Detrick said.
Some analysts caution, however, that such strength could also signal overheating — a pattern recently noted in the Nasdaq-100 as well.
John Paul is the founder of DayTradeToWin, a trading education and software company established in 2008, supporting traders worldwide. His expertise focuses on price action-based futures trading strategies and structured market analysis.
DayTradeToWin delivers trading education, indicators, and software tools designed to help traders apply disciplined, rule-based decision-making across global futures markets.
He is the creator of multiple trading methodologies, including the Sonic System, Atlas Line, and Trade Scalper, which help traders identify structured opportunities in markets such as the E-mini S&P 500 (ES), Nasdaq (NQ), crude oil (CL), and gold (GC).
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