The bull market has been historic: The S&P 500 has traded above its 50-day moving average for 106 sessions, the longest streak in a year. This is also the 5th-longest stretch over the last 30 years. Just 5 more sessions would make it the 3rd-longest streak over the last 30 years. For context, the record run was 149 sessions in 2007. Meanwhile, the Nasdaq 100 ETF, QQQ, has gone 107 sessions above its 50-day moving average, its longest streak since 2017. Market momentum has rarely been stronger.(The Kobeissi Letter)