The Gradual Rally

This has been one of the most gradual rallies I’ve ever seen. It’s as if the market goes up by a small amount nearly every day. I find this statistic remarkable — the Dow hasn’t had a three-day slump all year.

The S&P 500 has now gone more than 100 days without having a 5% pullback. That’s the longest streak like that since early 2007. Bespoke notes that the largest pullback this year, measuring from the high, has been 3.49%. That’s the smallest since 1995.

Posted by Eddy Elfenbein on May 28th, 2013 at 2:19 pm

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