Individuals net bought for 22 trading days… Citadel Securities suggests possibility of a year-end rebound

Retail investors have bought U.S. equities net for 22 consecutive trading sessions, accumulating nearly $33 billion in net purchases on one trading platform, according to Citadel Securities' November note. The buying streak began October 5 and averaged $1.5 billion per day, 1.4 times the trailing one-year average, even as the S&P 500 fell 2.0% over the same period. Citadel Securities found that in 12 prior episodes since 2017 where retail net buying persisted 15 sessions or more, the S&P 500 rose in 10 cases, with a median index move of 2.2%. The firm framed the data as a signal of improving conditions and raised the possibility of a year-end rebound. What to watch next is whether the streak extends and whether the S&P 500 follows the historical pattern of gains after prolonged retail accumulation.