The S&P 500 Is One Day Away From Completing A Streak We Haven't Seen Since The Nixon Administration

Richard NixonOllie Atkins, White House photographer, via Wikimedia CommonsRichard Nixon gives his ‘victory’ sign in Philadelphia in July 1968.

The S&P 500 is one trading day without a 0.5% move away from its longest such streak since 1969.

Jonathan Krinsky at MKM Partners alerted us to the S&P’s current 14-day streak without a move larger than 0.5%, the longest such streak since 1995.

To find a streak longer than 15 days, you have to go back to February 1969, when there were 20 consecutive days with no closes greater than 0.5%.

In February 1969, Richard Nixon was president.

Krinsky notes that four of the five longest streaks without a 0.5% move since 1980 were broken with up days, while the 1969 streak was broken by a 1.13% down day, followed by five more down days.

This is the second major streak the S&P 500 has had this year, as earlier this year the benchmark index went 62 days without a move larger than 1% before falling 1.1% on July 17 after Malaysia Airlines Flight 17 was shot down over Ukraine.

Last week, Richard Nixon was in the news after a bizarre slip up in loan documents forced Nu Skin to confirm that the deceased former president is not a banker at JPMorgan.

On Tuesday, Nixon may again be in the financial news, except this time, for something less strange.

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