Finally, after seven consecutive gains, the S&P500 closed lower than the day before. Previously, since 1996, there had been 15 such runs – three of these happened earlier this year. The 2013 incidents were spaced 31, 86, and 42 days apart; the last seven day S&P500 winning streak started on July 12.
In the past, the time between seven consecutive up days ranged from 22 days to more than 1,500 trading sessions. Yet prices failed to retain these gains only about half the time. Prices thirty days later ranged from a low of 89 percent to a high of 109 percent of the seventh day closing price. The only incident during bear markets, in August 2000, found the S&P500 unchanged after thirty days.
DJIA -.17 percent
NASDAQ -.24 percent
S&P500 -.34 percent
