The Market is up 7 days in a row

The NASDAQ is up 7 days in a row.  This is an unusual event since the tech bear market having only happened 23 times out of 2,547 trading days since Dec. 31, 1999.  Using the QQQ ETF as a proxy for the NASDAQ, the market has gone on to rise an average of 3.8% in the 30 days following such a long string of up days in 64% of the incidences.  It has declined in only 8 incidences 30 days later by an average of 1.8%.  The strongest gain was 7% following a 7 day string of up days in September 2010.  If the market goes on to rise tomorrow and Friday the historical tendency of more upside strength will rise to above 70%.  Jeb Terry, Sr. July 6, 2011

Source: Aberdeen Investment Management

Aberdeen Investment Management – a guide service for micro-cap technology investment

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