Prices declined as the market reversed direction again for the fourth session in a row- a situation experienced just 13 times in this century. Most of those days occurred between 2003 and 2009, with five during the 2003/2007 bull market and another five while prices were falling between 2007 and 2009.
Adding to this lack of harmony is the distinct difference between these averages on the following day: the NASDAQ moved higher nine times, declining on four days, whereas the DJIA and the S&P500 had an even number of ups and downs.
All this comes six trading days after the S&P500s six gains in a row. Our diagram locates these 22 closes in the last 13 years. Note that all but two accompany rising prices, that six share the 2003/2007 price acceleration and that the last six are part of the current, since 2009 expansion.
As for the following day, prices moved higher as often as they declined.
DJIA -.91 percent
NASDAQ -.96 percent
S&P500 -.94 percent
