February 13, 2012 Week Opens Higher
Prices, which fell on Friday after three gains in a row, recovered today. This pattern, of +1/-1/+3, has now posted its18th repeat since the start of 2000. Only two of these incidents happened while prices were trending down. The balance is divided equally between the 2003/2007 and the current expansion.
Since these data show such significant identification with rising prices, todays market signals the continuation of this bull market.
The outlook for tomorrow is positive, even though in the past the eight positive next day closes were outnumbered slightly by the nine subsequent declines.
DJIA .57 percent
NASDAQ .95 percent
S&P500 .68 percent
