Stocks set to mark a bullish milestone for the first time in five years, as ‘momentum’ rules the week

What a week for the markets.

As of Friday afternoon, the S&P 500, the Dow Jones industrial average and the Nasdaq composite have all notched gains for five days straight, from Monday through Friday. The last day that the three major indexes have logged such a streak was in 2011, in the week of Sept. 12 — coincidentally, also from a Monday to a Friday.

Before that, the three indexes rose each day of a full week just a few months earlier, from June 27 to July 1.

This time around, the coincident one-week runups to record highs come as part of a big post-election rally.

"Momentum wins," summed up Michael Block, chief strategist at Rhino Trading Partners, in a Friday email to CNBC. "It's broadening out, and it's the most powerful thing going on right now."

On the other hand, MKM Partners technical analyst Jonathan Krinsky cautions against making investment decisions based on a small cluster of data points.

"One sample size is tough to glean too much from, and Sep. 2011 was a much different market," he wrote to CNBC. "So I don't think I would read too much into it."

The last time the three averages moved higher for six days straight was in the period ended July 13, 2010.


Trades to Watch

Trader Bios


Trading Nation is a multimedia financial news program that shows investors and traders how to use the news of the day to their advantage. This is where experts from across the financial world – including macro strategists, technical analysts, stock-pickers, and traders who specialize in options, currencies, and fixed income – come together to find the best ways to capitalize on recent developments in the market. Trading Nation: Where headlines become opportunities.

Sara Eisen

Sara Eisen joined CNBC in December 2013 as a correspondent, focusing on the global consumer. She is co-anchor of the 10AM ET hour of CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET), broadcast from Post 9 at the New York Stock Exchange.

In March 2018, Eisen was named co-anchor of CNBC's "Power Lunch" (M-F, 1PM-3PM ET), which broadcasts from CNBC Global Headquarters in Englewood Cliffs, N.J.

Read more