The beat goes on, as the DJIA, the NASDAQ, and the S&P500 continued to new highs for the second straight day.
Our diagram presents the last three episodes when the S&P500 closed above 1,300. It shows that the current price expansion, that began in March 2009, is smoother and with fewer price reversals than the two earlier periods.
Note that each of the two previous runs above 1,300 ended and prices dropped. Further, these reversals lasted for hundreds of trading days.
Moreover, the two earlier run-ups experienced significant reactions before continuing their growth and setting new record highs.
So far, the present period of increasing values has not met such resistance – and has continued to make substantial gains over the last hundred trading days.
DJIA .14 percent
NASDAQ .66 percent
S&P500 .25 percent
