August 7, 2012 Third Gain in a Row
Like a mirror image of last week’s string of losses, the market closed higher for the third straight day. Just 232 other such closes exist in the near 16,000 trading days since 1950. Today’s is the 74th repeat in this century.
Our diagram showing these closes reveals that most – more than 80 percent- occurred during the two upturns. Thus implying a continuing sequence of higher prices – in other words, a bull market.
Yet projecting these data to tomorrow reveals chances almost equal for another positive day or for a decline.
DJIA .39 percent
NASDAQ .87 percent
S&P500 .51 percent
