Finally prices moved in the same direction two days in a row – after 13 consecutive closes when prices shifted direction from the day before.
But today’s focus is on the DJIA and its record breaking close at 14559.42. Our diagram shows its high energy growth, since mid-2011, occurring in three distinct waves. It has a distinct profile, quite unlike the value profile of the previous two bull markets.
In 2000, prices were heading down at this stage while in 2007, the market was approaching the weakness that shut down that expansion.
Can the market sustain and continue this escalation? While sharp, this growth cycle is still young; there have been 1,025 trading days since the 2009 low. The 2000 expansion ended after 1,059 days while the last bull market lasted 1,154 trading days.
DJIA .41 percent
NASDAQ .48 percent
S&P500 .35 percent
