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Nasdaq streaks

Posted By Barry Ritholtz On May 25, 2005 @ 11:14 am In Markets | Comments Disabled

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

click for larger chart

Streaknd_1 [1]

Source:  Mike Panzner [2]

Mike Panzner [2] 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.
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URL to article: http://www.ritholtz.com/blog/2005/05/nasdaq-streaks/

URLs in this post:

[1] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/streaknd_1.jpg

[2] Mike Panzner: http://www.amazon.com/exec/obidos/ASIN/032124785X/ref=ase_thebigpictu09-20/102-4529470-0078540

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