The last time the NASDAQ advanced four days in a row while the DJIA and the S&P500 moved up twice was on May 15. Then the market continued its move to new, record breaking highs. This trend continues, with the S&P500 closing above 1700 just earlier this week. Yet earlier repeats of this pattern happened near turning points. While five occurred near lower turning points, foreshadowing long runs of increasing values, another five clustered just before -and shortly after- the October 2007 market top.
Our diagram pinpoints these days.
Turning to the following day, the S&P500 moved higher on eight of the next ten days in the past. The DJIA and the NASDAQ have almost the same positive next day record, advancing seven times.
DJIA .83 percent
NASDAQ 1.36 percent
S&P500 1.25 percent
