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Week of March 6th – Will Equity Markets Continue Printing New Highs?

March 10th, 2017

If history is any indication, then yes.

Our friends at Dorsey Wright, we use their research daily, put together that statistic in the table below. The research was compiled after the Dow set new highs 10 trading days in a row. The last time the Dow Jones Average did this was in 1987. The only meaningful statistic to work with is, what happened the last time the Dow made a new high 9 consecutive trading days or greater.

Just so we are clear. What happens with the Dow in the next 60 days will most likely not make a difference anyone’s life. But just for fun; did you notice that when the returns are averaged out across all time periods they are all positive? As are the returns 20 days after the new highs are made. And, even if the Dow is not as kind as all that, did you notice that the downturns are minimal? We may expect, want the other shoe to drop, the correction to begin, but for now this is what bull markets look like.

Higher highs and higher lows, little steps upward, it’s nice for now.

Our portfolios strategies generally reflect overweighed exposure to Domestic Equities.

Carlos Dominguez, CFP® – Portfolio Manager

 

Sources: https://www.dorseywright.com/Dorsey, Wright & Associates (DWA) is a registered investment advisory firm based in Richmond, Virginia. Since 1987, Dorsey Wright has been advisor to financial professionals on Wall Street and around the world. In 2015, we became a subsidiary of Nasdaq in order to provide even greater innovative solutions to our clients.”

Links are being provided for information purposes only. Raymond James is not affiliated with and does not, authorize, or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Any opinions are those of Carlos Dominguez and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor recommendation. The information has been obtained from sources considered reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Dow Jones industrial Average (DJIA), commonly known as “The Dow” is an index representing 30 stock of companies maintained and reviewed by the editors of the Wall Street Journal. Inclusion of these indices is for illustrative piurposes only. Keep in mind that individuals cannot invest in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual invetor’s results wil vary. Past performance does not guarantee future results. Raymond James is not affiliated with Dorsey, Wright & Associates.

 

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