Nasdaq streaks

Wednesday, May 25, 2005 | 11:14 AM

Up until yesterday (5/25/05), the Nasdaq Composite had risen for eight straight days:

click for larger chart


Source:  Mike Panzner

Mike Panzner observes:  "Since the creation of that index in 1971, there have only been 86 instances (or 4.13% out of a total of 2,080 streaks of from 2 to 19 days) where the market has
had an unbroken string of eight or more up or down days in a row.

Not surprisingly, the lengthier streaks tend to be rallies, although one of the most notable downtrends was a 16-day unbroken string of losses that ended on 2/9/1984.

The longest unbroken winning streak was a 19-day run that ended on 8/31/1979.

Wednesday, May 25, 2005 | 11:14 AM | Permalink | Comments (2) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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What is driving NASDAQ? Is ther a new purchase cycle for Informaton Technology? The equipment ages, breaks in general newer technology is more cost efficient. Workers are probably more computer savy and more able to use the technology than say in the '80 when I was a programmer and many employees were not totally comfortable with computerizaton of what they had been doing all their lives.

Posted by: steve | May 25, 2005 11:23:23 AM

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