The up-then-down market continues. Now 13 trading days after the record high on March 7, the averages continue to trade higher one day and lower the next: there have been 10 direction changes in the last 14 days. The result is the market’s failure to move above what now has become the latest maximum.
That may not be surprising given the fundamental shocks of Crimea, sanctions and then the missing airliner. Nevertheless, today’s diagram reveals the close conformity of the last 13 days with both the 2000 and 2007 bull market highs.
Obviously, this is not the final answer, yet – prices may continue to advance further, even though this expansion – now 1,269 trading days since its 2009 bottom – is the longest of this century.
DJIA -.60 percent
NASDAQ -1.43 percent
S&P500 -.70 percent
