Nasdaq 7-Day Winning Streaks

The Nasdaq Composite Index is riding a 7-day winning streak heading into this option expiration Friday.  Below we highlight the prior twelve 7-day winning streaks for the Nasdaq in the last 10 years.  The last time the Nasdaq had a 7-day winning streak was in September 2006, but it couldn't keep the streak going as it declined 0.60% on the 8th day.  The average performance of the index on day 8 has been -0.40% over the last ten years, with positive returns just 25% of the time.  Over the next 7 days instead of just the next day, however, the average change for the Nasdaq has been 0.58%.  The bulls will gladly take one down day if it means big gains over the next 7 days.