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The stock market's hot streak hints at more good times ahead

Brian Sozzi · Executive Editor

Tue, September 8, 2026 at 2:40 PM GMT+3 3 min read

• ^GSPC -0.38%

With many on Wall Street increasingly worried about a looming market correction, stocks do have one powerful thing going for them.

They remain in a strong long-term uptrend, which usually suggests more good times ahead.

The S&P 500's (^GSPC) 200-day moving average has now risen for 329 consecutive trading sessions, the fourth strongest streak over the last 10 years, strategists at The Kobeissi Letter pointed out.

This follows a previous 460-session stretch that briefly ended in April 2025 following president Trump's "Liberation Day" market massacre, bringing the combined streak to about 800 sessions. If one looks at it from that perspective, it would be the third longest since 1990.

The longest such run lasted 1,448 days during the 2000 dot-com bubble.

Historically, when the 200-day moving average rises, the S&P 500 has returned an average annual gain of 8.5% since 1999, the strategists say.

"History suggests the bullish trend is far from over," they added.

While the market could be poised for more gains into year-end — fueled by a strong corporate earnings backdrop — the conditions are in place for gains to be more muted than in the first half.

Read more: What is a bull market? Definition, examples, and investment strategies.

For one, a worldwide government bond sell-off has intensified with a ferocity that should alarm every investor, big and small. The yield on the 10-year US Treasury note (^TNX) — the single most important interest rate in the world, and the rate that sets the price of everything from a mortgage to a car loan to a credit card — recently touched its highest level since 2023.

The 30-year yield (^TYX) is near a two-decade high, which does nothing to help those planning for their long-term financial security.

At the same time, crude oil prices have surged past $90 per barrel again, driven by escalating geopolitical tensions involving Iran and the corresponding impact on the Strait of Hormuz.

Goldman Sachs warned on Monday that oil prices could hit $120 a barrel if attacks in the Strait of Hormuz trigger more transport blockages.

"For the overall equity market call, we believe that robust activity backdrop will prevail, with continued upward earnings momentum — weekly EPS revisions keep improving, now net positive in all key regions," JPMorgan strategist Mislav Matejka wrote. "Despite this, many continue to fear a material correction, and we accept that geopolitical risks, and indirectly the inflation & bond yields headwinds, could become more significant."

"Having said that," Matejka continued, "as corporate profits remain on an uptrend, any bout of weakness in equity prices would leave them cheaper. We believe one should continue using the dips to add."

Brian Sozzi is Yahoo Finance's Executive Editor, host of the 'Power Players With Brian Sozzi' podcast and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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