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Monday
Aug062012

Cured of the Mondays?

After nine straight negative starts to the week, the DJIA is on pace for its first positive start to a week since May 29th!  Granted, we still have more than half of a trading day left, but if the DJIA closes higher today it will avoid joining only eight other periods in the index's history that the first trading day of the week was down for ten or more straight weeks.  

For the short term the end to this streak may be a mixed blessing.  In the eight other periods where the DJIA started off the week down ten straight times, the index declined an average of 0.84% over the following week and was only positive on the start to the eleventh week 25% of the time.  And while the DJIA has started off in negative territory over the last nine weeks, since the streak began on June 4th, the index is up more than a thousand points!  So while weeks haven't necessarily been getting off on the right foot, they have surely been finishing off well.

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