FOMO Redrawing U.S. Stock Charts as Investors ‘Ride the Wave’
- S&P 500 is trading about 15% above its 200-day moving average
- Benchmark’s tech index gained about 10% over the last 9 days
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The best August in 34 years. The fastest start to a September in a decade. Eleven gains in 13 sessions, with records coming almost daily.
The superlatives are piling up for American equities that lately seem to only go higher. And while stocks at all-time highs are bound to make for some eye-popping charts, the relentlessness of the latest rally is pushing some measures of velocity to levels that are turning heads among strategists and money managers.