The Dow has lagged other indices most of the year, but is finally starting to outperform.
The Dow has now broken out to a new all-time high for the first time in 163 trading days.
In other words, the Dow has broken out of a long consolidation after a long time. Historically, this is somewhat bullish for the Dow, although the Dow might make a short term pullback.
This is what happens next to the Dow when it makes a new ATH (daily HIGH $) for the first time in at least 163 trading days.
Historically, this is more consistently bullish for the S&P 500’s medium term and long term.
All of the U.S. stock market’s major indices have broken out to new highs after a long consolidation. This is akin to a rocket that’s gathered fuel for a long time. The longer the fueling period, the higher the blastoff.
This is medium-long term bullish for the stock market.
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