The S&P500 established a new high, closing at 1900.53. It took 124 trading days to move the 100 points from the previous century crossing that occurred last November. That is a slower growth rate than the two previous crossings. When the S&P500 closed above 1800, it took only 61 days to move the 100 points from 1700; while the move from 1600 tokk 69 days.
Further, today’s pattern of three consecutive advances after Tuesday’s decline,is a typical feature of bull markets. The diagram reveals this combination happening about once in every fifty trading days during the past three expansions. That is twice the rate of once per hundred days when prices are falling.
Meanwhile history reveals a bright outlook for the next day -on Tuesday after Memorial Day.
Most of these past following day closes for this pattern were a fourth positive close in a row.
DJIA .38 percent
NASDAQ .76 percent
S&P500 .42 percent
