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Posts: 5,158
Reply with quote  #1 
First paragraph from this weekend's Weekly Breadth Data:
Stocks started 2018 with a bang as the major market indices were up by an average of 2.32% which was the largest average weekly gain since the week ending December 11, 2016. Leading the charge were the Dow and NYA which rose 2.30%, with the S&P 500 gaining 2.60%, while the NASDAQ was up 3.38%. The Dow notched its biggest weekly gain since the period ending December 1, 2017, as the S&P 500 recorded its best weekly rise since November 11, 2016, and the NASDAQ logging its best advance over the same period since December 9, 2016. On a historical basis, the Dow started off the new year with four consecutive record closes. This was the first time this has happened since 1964 as a part of an even longer streak of 13 straight weeks of new all time high closes from December 16, 1963 through March 9th, 1964!

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Posts: 8,877
Reply with quote  #2 
fyi - here is the monthly 20,2 Bollinger Band context for the record prices
seen in early January 2018:

* we have seen the index price action routinely hugging the monthly rising upper BB
in selected prior years, including 2017

the future evidence remains to be seen if 2018 actually repeats for even more additional months
this upper BB hugging action for multiple consecutive monthly price closes as it has
in several prior advancing sequences since 1998

monthly closes line chart since 1998 for NYA, SPX, OEX, COMPQ, NDX and INDU -

* notice the expanding monthly Bollinger Band width since 2015/2016
for the several displayed indices ... has interpretation value

January 8, 2018 closing update view:

NYA montly since 1998 with SPX OEX COMPQ NDX INDU - January 8, 2018 Mo.png 


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