With the successive up and down succession now past all records, consider the impact on prices, measured by the rate of change over the last twenty days. It has fallen, for the S&P500, from 4.46 percent just seven days ago to .57 percent today.
Our diagram compares these 20-day rates of change with the S&P500 prices for each day since March 2009, when the current recovery started.
So far there have been 51 closes with 20 day rates between .57 percent and zero. The purple open diamonds identify these and show their incidents distributed just about equally over the current upswing.
Their frequency is about the same as during the 1998/2000 bull market but slightly more than half the rate of the 2003/2007 expansion.
DJIA -.32 percent
NASDAQ -.66 percent
S&P500 -.44 percent
