It’s eight advances in a row for the NASDAQ and the S&P500, while the lagging DJIA closed higher for the third straight day. This run of positives is a first – in the near 16,000 trading days since 1950. Moreover, there are just two occasions when the DJIA also had an eight day positive streak.
More to the point, focus on the size of today’s gains. There have been just 20 closes over the last five price cycles with advances smaller than .13 percent for the DJIA, .21 percent for the NASDAQ and .14 percent for the S&P500.
The good news is that all happened during bull markets!
Further, the diagram shows these days distributed all over the three expansions. Because they do not cluster near bull market tops, we have a heartening indicator: in the past, falling prices have not followed such small positive days.
DJIA .13 percent
NASDAQ .21 percent
S&P500 .14 percent
