Adding .80 percent, the NASDAQ scored its eighths consecutive advance today. This streak, only the six in the past 11 years, moreover, is its fourth in 2010. Looking ahead, the record shows just three nine-days-in-a-row since 2000, with three of those occurring this year.This index now has returned to 93.3 percent of its October 2007 high of 2803.91, and betters the previous recovery high of 92 percent, reached earlier this year, in April.
Furthermore, while the DJIA and the S&P500 also reached post October 2007 highs, their improvement rate is lower, and their disadvantage relative to the NASDAQ is getting worse.
The diagram illustrates the recapture rate of these indices so far this year. Whereas the S&P500, now at 78.8 percent of its 2007 high, had achieved 86 percent parity with the NASDAQ in April, today that ratio has fallen to 84.5 percent.
Similarly, although the DJIA improvement rose from Aprils 79.1 percent to todays 80.3 percent of the October 2007 high, its equivalence with the NASDAQ has declined, from 88 percent in April to 86 percent today.
Projecting the relative future of these three improving indices requires estimating whether the gap will continue to accelerate or whether the DJIA and the S&P500 will be able to close this, so far, growing imparity.
DJIA .35 percent
NASDAQ .80 percent
S&P500 .60 percent
