Bull markets with rising prices characterize the combination of three gains in a row for each of the indices –the DJIA, the NASDAQ, and the S&P500. This pattern occurs more than twice as often in expansions than when prices are falling.
Note that six such closes happened last year. On the following day, the S&P500 moved higher every day, scoring four successive gains. The NASDAQ had just one decline, combined with six advances in a row. The DJIA trails, moving higher just three times.
Yet a caution is necessary since these days also cluster near market tops – see especially the many repeats near the end of the 2007 expansion. These totaled eight, with the last event crossing the tape only nine days before the market turned down.
DJIA .46 percent
NASDAQ 1.64 percent
S&P500 .70 percent
