April 27, 2011 NASDAQ Breaks Through 2007 Top
Ending todays trading at 2869.88; the NASDAQ finally broke through its last, October 2007 high of 2859.12. True, thats not much growth but after nearly 900 trading days below its last high, it marks a new period. Regrettably, the DJIA has attained just 89.6 percent of its previous high, and the S&P500 is even further behind, recovering only 86.6 percent.
Todays pattern of six straight NASDASQ advances and two consecutive gains by the DJIA and the S&P500 presents a unique situation: it is a first since 1999! Before then, it occurred 22 times between 1971 and 1999. For that reason, tomorrows projection reflects this earlier period.
The outlook for the NASDAQ is very favorable, with 15 days of a further, consecutive advance; the S&P500 history shows a near equality of 12 gains and 10 losses, while the DADJ had an even number of further increases and declines.
DJIA .76 percent
NASDAQ .78 percent
S&P500 .62 percent