Today was only the 31st time that all three indices -the DJIA, the NASDAQ and the S&P500- closed higher for six straight days. Furthermore, the count since January 2010 falls to just seven. However, before celebrating this run, remember that the last occurrence, in April, preceded the steep correction of just three months ago, in April 2010.
Moreover, this positive run must end shortly: with a mere 31 repeats in the 15,200 sessions since 1950, this unusual run will come to an end. And indeed, in the past, prices fell on the following day four times out of seven.
On the other hand, apart from what will happen over the next few session, the longer term outlook, as described on Friday, continuous favorable.
DJIA .18 percent NASDAQ .09 percent S&P500 .07 percent