Start the conversation
U.S. markets are trying, without much luck, to rebound from a string of six sessions that, if not exactly bearish, were less than convincingly bullish.
Truth is, all told, over the last five days, the Dow is down just 0.69%.
The last time we saw anything close to this was back in early August. We're still in the thick of the longest streak of trading days without a 3% pullback in the entire history of the S&P 500.
This data goes back 89 years, folks. You'd never know it if you were watching financial news and scanning headlines, but we're still firmly in unprecedentedly bullish territory.
Pullbacks of any real depth are far in the rearview mirror – for now.
That means investors looking to employ the classic "buy the dips" strategy to build positions more cheaply will have to change their game plan a bit.
Let me show you…
Let's Define Some Terms
Market analysts call a 10% price drop in the major indexes a "market correction." 20% is classified as a "bear market."
But we haven't seen anything close to that level of pullback. Like I said, the market hasn't pulled back as much as 3% in more than a year.
If that sounds like a long time, it is. This is the longest streak of trading days without a 3% pullback since Calvin Coolidge lived in the White House.
About the Author
Nationally recognized technical trader. Background in engineering, system designs, and risk reduction. 26 years in the markets.