The DJIA as well as the S&P500 closed higher for the sixth day in a row. This combination is so rare, that todays is just 7th in the more than 3,300 trading days since the beginning of 2000.
Yet these closes deserve attention because they happen at market tops. Our diagram shows one just before the market peaked in 2000; it shows another happening near the 2007 top. There are two close to the first correction suffered since the market recovered from its 2009 bottom.
However, while we note two occurrences when prices were poised to shoot higher, it is clear that these are atypical, and further, it would not seem reasonable to infer these as signaling recovery and higher prices.
DJIA .40 percent
NASDAQ .36 percent
S&P500 .40 percent
