Four Straight Under 0.1% Moves

Oh dear lord, this market has been sound asleep. Here are the five closings, in order, for the S&P 500 last week; 2,038.26, 2,039.68, 2,038.25, 2,039.33 and 2,039.82.

Someone check for a pulse.

The S&P 500 has finished the day, up or down, by less than 0.1% for four straight days. That’s the longest such streak in more than 35 years.

Since October 17, we’ve had only one day down of more than 0.3%. On Friday, the S&P 500 closed above its five-day moving average for the 21st day in a row.

This has been a cat’s-feet rally, but the market is taking a rest after a hectic few weeks. Bloomberg notes that from October 15 to November 11, the market staged its biggest 20-day rally in more than two years.

Posted by on November 17th, 2014 at 8:27 am


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