November 3, 2011 Another Up Day
All the three indices moved higher, closing positive for the second day in a row. This pattern of +2 is not an unusual sequence, with 216 repeats since January 2000. Further, these closes seem equally distributed over bull and bear markets, occurring about 8 percent of all trading days.
Looking at the history of the next, following day, about 75 percent have moved higher since the last bottom in March 2009. This ratio, during the previous expansion, however, was only 49 percent. Yet during declines, that percentage hovered around 36 percent.
DJIA 1.76 percent
NASDAQ 2.20 percent
S&P500 1.88 percent