If you are a bear, maybe don't read this post. If you are a bull definitely read this post.
Here it goes:
$SPX is currently on consecutive day 108 of not even closing below the 50dma. Sounds like a lot? Well it is. Hasn't done something like this since 1995-1996.
But here comes the scary part for bears.
In 1995-1996, the $SPX lasted 258 consecutive days (+36% in that timeframe) without closing below the 50dma!
And in between that 1 year streak, it only had 2 very minor 3% draw downs. That's it. It finally ended the streak with a 4.5% draw down to close below the 50dma. But that was quickly scooped and the index roared another 11% the following month.
It then consolidated for another 5 months before finally getting a brief 10% correction drop. And THAT was also scooped it mighty fast have you...
TLDR: It's hard to short a raging bull market.
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