Though small, the S&P500 gain of .01 point kept its streak going, now 7 advances in as many days. Todays change, amounting to less than .01 percent is not that uncommon. There have been 177 of these since 1950, yet only 20 in this century. The diagram shows these, with the number indicating the number of days of the S&P500s run; if red, the index fell on the following day; if green, prices moved higher on the next day.
Though the next day count of 11 advances and 9 declines implies an even chance of either change, the reality is that 1) 16 of these closes happened during the bull market of 2003/2007 and since the bottom of 2009 and 2) during that span, the NASDAQ had 11 advances and 5 declines, while the DJIA and the S&P500 saw 10 gains and 6 losses.
The fact that 16 of these 20 infinitesimal small S&P500 advances happened while prices were trending up, allows an upbeat outlook.
DJIA .33 percent
NASDAQ -.74 percent
S&P500 .00 percent
