90.1% of NYSE stocks and 90.9% of NYSE volume advanced on the same day — the third double confirmation this year, following April’s signals.
Here’s the chart:
Let's break down what the chart shows:
The top panel plots the S&P 500 daily close in black.
Red vertical lines mark every day since 1950 when both advancing stocks and advancing volume on the NYSE exceeded 90%.
The middle panel shows the NYSE Advancing Stocks % in black.
The lower panel shows the NYSE Advancing Volume % in black.
The accompanying table lists every historical 90/90 day since 1950, along with the S&P 500’s forward returns at 1 week, 2 weeks, 1 month, 3 months, 6 months, and 1 year.
The Takeaway: A 90/90 day is one of the strongest internal surges the market can deliver.
It means almost everything is going up — and almost all the money is flowing with it.
This is not just breadth; it’s breadth confirmed by volume.
History shows the short term can be choppy after these signals. Average 1-month returns are only +3.8%, with more than a few pullbacks along the way.
But zoom out, and the message sharpens: 6 months later, the S&P 500 has been higher 88% of the time with an average gain of +15.5%. At 1 year, the hit rate climbs to 92% with average gains over +22%.
That track record makes 90/90 days less about catching a quick pop — and more about validating that internal participation is strong enough to fuel the next leg higher.
So, was last week’s 90/90 surge another fuel injection — or the last gasp before the trend stalls?
Grant Hawkridge | Chief Aussie Operator, All Star Charts
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