Bull markets and five straight gains for the NASDAQ go hand in hand. Almost all happen when prices are moving higher. Their count for the last three expansions stands at 80, whereas just 11 happened during the two previous bear markets.
Our diagram showing these days also displays the 54 succeeding sessions –orange-on-green- when the NASDAQ run extended to six consecutive positive days.
Clearly these events signal that the current bull market should not be sold short. Yet today’s strong plus indicator contradicts our last post that positioned Friday’s pattern as occurring before major price declines.
These opposing histories challenge forecasters to sharpen their tools while investors use their wits to be on the right side of coming price movements.
DJIA - .30 percent
NASDAQ .09 percent
S&P500 - .15 percent
