The NASDAQ finally moving higher after four straight losses joined the second positive closes of the DJIA and the S&P500, suggest that the market will continue to move higher. The pattern of todays close has occurred 24 times in this century. Nine of these occurred while prices were on the rise, during the 2003/2007 expansion, and a further seven happened since the last bottom in March 2009.
The outlook for the following day, however, is not as bright, since the record shows as many declines as advances. Further, the next day losses cluster when prices are rising, with ten declines in the two bull markets against six losing days.
DJIA .30 percent
NASDAQ .52 percent
S&P500 .33 percent