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"50-day “droughts” before and after a 52-week high in the Dow Jones Industrial Average have marked several major tops.It has now been 64 days since the last 52-week high in the Dow Jones Industrial Average (DJIA) on May 19. While that may seem like an eternity in the context of the past 2.5 years, it’s not at all unusual in the grand scheme of things. However, what did have us thinking*“hmmm” is the fact that there was also an extended period of time – 53 days to be exact – prior to the DJIA’s high on May 18 when the index was unable to score a new high. As it turns out, such droughts prior to and subsequent to a DJIA 52-week high have been unusual. And, as it turns out, such occurrences have often come at inauspicious times in the market cycle.Specifically, we looked at times when the Dow Jones Industrial Average made 1 or more new 52-week highs within a 7-day span – but no other 52-week highs during the 50 days preceding or following that 7-day span. As it turns out, the current instance is one of 11 unique examples going back to 1960."
"50-day “droughts” before and after a 52-week high in the Dow Jones Industrial Average have marked several major tops.It has now been 64 days since the last 52-week high in the Dow Jones Industrial Average (DJIA) on May 19. While that may seem like an eternity in the context of the past 2.5 years, it’s not at all unusual in the grand scheme of things. However, what did have us thinking*“hmmm” is the fact that there was also an extended period of time – 53 days to be exact – prior to the DJIA’s high on May 18 when the index was unable to score a new high. As it turns out, such droughts prior to and subsequent to a DJIA 52-week high have been unusual. And, as it turns out, such occurrences have often come at inauspicious times in the market cycle.Specifically, we looked at times when the Dow Jones Industrial Average made 1 or more new 52-week highs within a 7-day span – but no other 52-week highs during the 50 days preceding or following that 7-day span. As it turns out, the current instance is one of 11 unique examples going back to 1960."
[text] Dana Lyons' Tumblr — Drought Surrounding Last Stock Market High May Be...
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