September 14, 2012 Market Gains Continue for Fourth Day
Though prices moved higher again but far more modestly than the day before, the good news is that the chain of increases remains unbroken. And, just like yesterday’s analysis, these four gains in a row days cluster during the market’s bull phases.
The diagram shows that four up days closes happen 1.47% and .87% of the time during the 2003/2007 and the 2009/date rising price epochs. Similarly, in the two bear phases such days occur only .40% and .28% of the time.
Turning to the next day, in the past declines outnumbered gains for the DJIA and the S&P500 while the NASDAQ’s gains outnumbered losses by just 14:13.
Clearly, it would be very unusual if prices were to continue their positive run on Monday.
DJIA .40 percent
NASDAQ .89 percent
S&P500 .40 percent
