Prices across the board actually share NASDAQ’s strength, but the DJIA and the S&P500 declined yesterday. Yet their setbacks are so small, at just – .19 and .03 percent, that the NASDAQ reflects the market’s character.
The diagram shows the strong link between six-day advances and bull markets. Only four of these 57 happenings came when prices were trending down. In fact, these six-day sequences account for 1.8 percent of all bull market trading days. While this is an average frequency of once every 55 trading days, these sequences come in clusters. Moreover, quite a few appear at intermediate market tops.
There is a favorable outlook for tomorrow: the record shows seven consecutive advances occurring just about one of every two happenings.
DJIA .39 percent
NASDAQ .94 percent
S&P500 .58 percent
