The Dow has a chance to do something it's done only 6 times since 1980
The stock market has hit a lot of records lately: all-time highs for the Dow Jones Industrial Average and for the S&P 500, with even the bond market making history (record-high prices and record-low yields).
With the Dow opening higher on Wednesday, stocks have a chance to do something else historic, according to Nautilus Investment Research.
"We highlight two momentum signals we will be watching today," Nautilus' Tom Leveroni wrote in a note. "An up close in the Dow Industrials today will give it 9 consecutive up closes, a rare feat of trend persistence."
In fact, if the Dow hits the ninth up day in a row, it would be only the seventh time this has happened since 1980. In each of these instances, albeit on a small sample size, the index has been up the following six months with an average gain of 10.41%.
The largest of these upward moves was 22.05% after the market hit the streak on January 14, 1987, and the smallest was a 4.72% gain in the six months after it was hit on New Year's Eve 1991.
Additionally, according to Leveroni, this would be the 30th time this has happened since 1900, and the average gain in the following six months has been 5.96%.
So here's to another (maybe) record.
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