Minimal gains closed the week, with the DJIA up just .07 percent, while the NASDAQ moved .16 percent and the S&P500, the leader of the day, increasing .50 percent. Whereas the past record, described in yesterdays blog, projected an even chance for gains as for losses, this outcome of near zero movement by all three indices, is a near approximation.
Small changes like today are infrequent the DJIA has the most with 811 out of the more than 14,000 trading days since 1950. Yet this close, with the three indices held to such small positive numbers, is a first.
This, the third positive close in a row for the indices, is also not a common occurrence. There have been just 208 since 1950, with only 49 in this century.
Yet, with four of these coinciding with the bottom of the 2000-2003 decline, the hope that this bear market is nearing the end has some basis in fact.
As for Monday, history reveals only 76 days with all the indices moving higher for the fourth time in a row moreover, there have been only 16 such closes in this century.
DJIA .07 percent
NASDAQ .16 percent
S&P500 .50 percent