USMarketView

NASDAQ’s.59 percent advance today is the fourth straight gain in as many trading days. Since 2000, there have been only 62 such four day runs, occurring on 3.2 percent of all closes.

Considering tomorrow’s close, NASDAQ has posted 31 five straight advances –that is 1.6% of the time- since the start of 2000.

But there have been an equal number -31- negative closes after four straight advances since 2000.

While these odds are just equal, there are 21 five straight positive closes in the last four years—compared to only 17 down days following four straight advances.

The S&P500 rose .81 percent today, while the DJIA gained .86 percent, making this the first positive day of the week for these indices.

The NASDAQ average is now 3.08 percent above its July 2007 high, whereas the DJIA has gained 1.41 percent; the S&P500 trails these results, increasing just .78 percent since July.

This entry was posted on Tuesday, October 9th, 2007 at 12 112007000000Tue, 09 Oct 2007 23:49:47 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.