Tuesday, March 17, 2015

Nasdaq Post-Streak Performance Update

The Nasdaq posted its 10th and final day of its consecutive day uptrend on February 24th.  The index closed that day at 4,968.12 and we posted commentary highlighting what history told us could be in store after such a surge.  As our previous post suggests, the index has been prone to initially pulling back after these uptrends.  The theme has been for the Nasdaq to fall over the first month or so before resuming higher as we look a quarter out.

We've now had 15 market days since that day and wanted to take a look at the early results:

Day 5 (March 3rd) - Nasdaq closed at 4,979.9 for a gain of 0.237%

Day 10 (March 10th) - Nasdaq closed at 4,859.79 for a loss of -2.181%

Day 15 (Today) - Nasdaq closed today at 4,937.43 for a loss of -0.618% since the last day of the streak.

Ryan Worch is the Managing Director of Worch Capital LLC. Worch Capital LLC is the general partner of a long/short equity strategy that operates with a directional bias and while emphasizing capital preservation at all times.

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