April 3, 2009
Prices moved higher for the fourth consecutive day, even though the market did not turn positive until late in the day. While the increases were the smallest of the week, todays close is only the 16th time since 1950 that these three indices, together, scored four straight increases.
Moreover, only seven of those occurred after the market had dropped twice in a row, as it did this past Monday and on Friday of last week.
In considering the future and what to expect when the market reopens after the weekend, note that it is even more unusual for all the three indices to sustain the momentum and to succeed in scoring a fifth straight advance. There were just 29 of these since 1950 with five occurring since JAnuary 2000.
DJIA .50 percent
NASDAQ 1.20 percent
S&P500 .97 percent