Prices did not change much as the NASDAQ and the S&P500 stayed in the plus column for the third straight day. The DJIA, however, could not maintain the same momentum, and fell. Today’s is the 33rd repeat of this pattern since 1996 – over the last four price cycles.
On the following day, declines dominate bear markets, but gains and decreases occur with equal frequency when prices are moving higher.
Our diagram reveals that the current upswing has 12 such days, while the other two bull markets have some seven and eight occurrences. While this dominance over declining markets is not large, it nevertheless seems a confirmation, however slight, that prices will continue to move higher.
DJIA -.03 percent
NASDAQ .42 percent
S&P500 .19 percent
