The MSCI All Country World Index has stayed above its 50-day moving average for 122 trading days. That’s the longest run of global strength in 15 years.
Despite a spike in volatility, two key corners of the equity market are moving together in strength. Small Caps are hitting fresh all-time highs, and Micro Caps are close behind.
The S&P 500 has gone 31 consecutive trading days without moving more than 1% in either direction. That’s the longest stretch of calm since January 2020.