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Tuesday, March 05, 2019 8:08:38 AM
NASDAQ’s Weekly Streak Intact: 6 of Last 8 Streaks Continued
By: Almanac Trader | March 4, 2019
Alright, so DJIA failed to stretch its weekly winning streak to ten last week. NASDAQ, however did post a weekly gain for its tenth week in a row. The current streak is NASDAQ’s ninth to reach ten or more weeks since 1971. During the current streak NASDAQ gained 19.93% at Friday’s close compared to an average gain of 23.93 for the previous eight streaks. Of the past eight streaks, six lasted into an eleventh week or longer. The longest weekly streak for NASDAQ was fifteen beginning in December 1971 and lasting until March 1972.
Similar to DJIA’s performance following streaks of nine or more weeks, when NASDAQ streaks of ten or more weeks came to an end performance one month later was something of a mixed bag with NASDAQ higher just 50% of the time. At three months after NASDAQ’s performance was better, up 7.52% on average. Beyond this point, NASDAQ’s performance was rather lackluster with only the slightest improvement in gains at the six-month point and even less one year later. Even if NASDAQ’s 1999 streak is excluded from averages, performance is still essentially flat beyond three months after the previous streaks ended.
In the above chart, the 30 trading days before and 60 trading days after the eight previous NASDAQ ten week or longer winning streaks are plotted (a typical month has approximately 21 trading days). Unlike DJIA’s chart, NASDAQ historically recovered much quicker after its streak ended with solid gains during the approximately three months after.
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By: Almanac Trader | March 4, 2019
Alright, so DJIA failed to stretch its weekly winning streak to ten last week. NASDAQ, however did post a weekly gain for its tenth week in a row. The current streak is NASDAQ’s ninth to reach ten or more weeks since 1971. During the current streak NASDAQ gained 19.93% at Friday’s close compared to an average gain of 23.93 for the previous eight streaks. Of the past eight streaks, six lasted into an eleventh week or longer. The longest weekly streak for NASDAQ was fifteen beginning in December 1971 and lasting until March 1972.
Similar to DJIA’s performance following streaks of nine or more weeks, when NASDAQ streaks of ten or more weeks came to an end performance one month later was something of a mixed bag with NASDAQ higher just 50% of the time. At three months after NASDAQ’s performance was better, up 7.52% on average. Beyond this point, NASDAQ’s performance was rather lackluster with only the slightest improvement in gains at the six-month point and even less one year later. Even if NASDAQ’s 1999 streak is excluded from averages, performance is still essentially flat beyond three months after the previous streaks ended.
In the above chart, the 30 trading days before and 60 trading days after the eight previous NASDAQ ten week or longer winning streaks are plotted (a typical month has approximately 21 trading days). Unlike DJIA’s chart, NASDAQ historically recovered much quicker after its streak ended with solid gains during the approximately three months after.
Read Full Story »»»
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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