Nasdaq’s 13-Day Rally and Third Straight 3% Weekly Gain Hit New Highs
The Nasdaq Composite notched a 13-day winning streak, matched only once in four decades, while the Philadelphia Semiconductor Index and XLK also posted rare multi-week gains. The S&P 500 is set for a third straight week of over 3% gains, and IGV recorded its strongest week since October 2001.
1. Historic Winning Streak
The Nasdaq Composite notched a 13-day winning streak, a feat previously seen only once in 40 years. The Philadelphia Semiconductor Index recorded its 13th consecutive gain for the first time since 1994, and the Technology Select Sector ETF logged just its third such run since 1999.
2. Weekly Performance Momentum
The S&P 500 is on track for its third straight weekly gain exceeding 3%, a milestone last achieved in November 2002. Meanwhile, the iShares Expanded Tech-Software ETF posted its best weekly return since October 2001, signaling strength beyond core semiconductor names.
3. Historical Comparisons and Risks
The current surge recalls the three-week rebounds off the dot-com bust lows in 2001–2002 but also evokes the momentum spike near the March 2000 market peak. While fresh highs suggest a new leg up, concerns persist that this rally could resemble a late-cycle top rather than a sustainable advance.
4. Market Breadth Concerns
Despite record highs across major indices, market breadth has not fully confirmed the breakout. Concentration in a handful of large-cap names is under scrutiny as investors weigh whether broad participation will emerge to support further gains.