The DJIA and the S&P500 hit historic highs while the NASDAQ closed at its best level in ten years! Thus the market returned to even higher levels, leaving behind the corrections of ten days ago.
Today’s pattern of two gains by the DJIA while the NASDAQ and S&P500 moved higher after Friday’s decline, last occurred in February 2006. That was some 1,511 trading days ago. Further, no repeats have crossed the tape in this expansion, nor in the previous 2007/2009 decline.
Our diagram locating these days also indicates gains and losses on the following days. While gains happened twice as often as losses, this history is not a reliable indicator of tomorrow’s changes. That is because this record refers to changes of long ago.
DJIA .72 percent
NASDAQ .85 percent
S&P500 .72 percent
