Four straight advances by the DJIA and the S&P500 propelled the market to new highs. These closes, combined with three consecutive NASDAQ gains, yield a combination seen just six other times since 1996. More important than the count, however, is the fact that all happened during bull markets.
Further, as today’s diagram shows, with almost all occurring during the early and middle stage of these last three bull markets, this pattern of closes suggests still higher prices ahead.
So far this market seems not affected at all by the continuing government shut down. The one slight exception comes from the rising interest rates on the U.S. Treasury’s ten year debt, which have increased a total of 2.2 percent over the last five business days.
DJIA .42 percent
NASDAQ .62 percent
S&P500 .41 percent
