The strong market continues with the S&P500 scoring the seventh successive advance. This many positive days in a row happened just 15 previous times over the last three price cycles. Just as yesterday’s outlook -written after six consecutive gains- suggested the high odds of continuing this chain for another positive day, the chances for an eight day streak are even smaller: only six moved higher, sending the positive days count up to eight.
The diagram locates these 15 incidents; it reveals that prices on the following day moved higher as often as they declined.
Note that each of the three previous seven up days in a row of the current expansion happened this year and that twice prices continued higher on the following day – scoring eight consecutive gains for the S&P500.
DJIA .89 percent
NASDAQ -.11 percent
S&P500 .31 percent
