What happens after the stock market has a streak of up or down weeks? To check, we use the S&P 500 Index (SP500) as a proxy for the U.S. stock market and calculate average weekly returns and variabilities of these returns after streaks of positive or negative weekly returns. We do not include streaks within streaks. For example, if the index has a streak of seven up weeks, only the first two weeks count as a streak of two up weeks, and only the first three weeks count as a streak of three up weeks. Using weekly SP500 closes during January 1928 through early May 2022, we find that:
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