Relaxing from the substantial appreciation of Thursday, todays prices closed fractionally higher. The pattern of three straight gains for the NASDAQ and the S&P500, and two days for the DJIA, is its seventh repeat in this century. The next day, in the past, for this pattern showed four declines and three increases.
The market will be closed Thursday of the coming week for Thanksgiving. Since the year 2000, the first day of the holiday week, saw prices rising more often than falling. The NASDAQ record has 8 increases and 2 decreases on Mondays over the past ten years. Both the DJIA and the S&P500 have almost as strong a record with 7 advances and 3 declines.
Noticeably, these two projections -one based on the pattern, the other on the past ten Mondays before Thanksgiving- provide opposite expectations. While passing on both, note that the performance of the pattern sequence provides a far smaller margin than the Thanksgiving based projection.
DJIA .20 percent
NASDAQ .15 percent
S&P500 .25 percent