Charting the S&P 500’s bullish spike atop the 20-day volatility bands

Widening the view to six months, the Nasdaq’s daily chart includes its 20-day Bollinger bands, also known as volatility bands.

On a headline basis, the Nasdaq Composite has reached uncharted territory, a move punctuated by four consecutive closes atop the 20-day volatility bands. Meanwhile, the S&P 500 and Dow industrials have staged less decisive breakouts, though each still registers as statistically unusual.

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte