S&P 500 Could Miss Out on Elusive 'Perfect Week' (SPY)

July 15, 2016 3:12 PM EDT

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How long has it been since the S&P 500 closed higher each day during a five-day business week? A while, it seems.

One market technician noted today that the S&P 500 hasn't closed higher from a Monday through Friday since March 1998. The following was posted to Twitter on Friday:

We believe that the Perfect Week moniker isn't transferrable to the S&P closing higher for just give cosecutive business days.

In late afternoon trading, the S&P is now down 0.2 percent.

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