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S&P 500 hits longest streak of overbought closes since 2020 despite slight weekly dip

Technical Signals
16 May 2026
Seeking Alpha
View Source
Neutral
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The S&P 500 has recently experienced its longest streak of closing at least 1.5 standard deviations above its 50-day moving average, marking 23 consecutive sessions in firmly overbought territory—the longest since September 2020. Although the index ended the week slightly lower, it has repeatedly reached new record highs amid a largely uninterrupted rally. This sustained overbought condition signals strong market momentum but may also suggest caution for investors anticipating potential corrections.

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