Two for Tuesday is a popular marketing phrase for radio stations, where they play the same artist for two songs in a row. In the equity market, a more accurate phrase is 20 for Tuesday, as stocks have been playing the same tune for the last 20 Tuesdays! By now, most investors are aware that the current streak is the longest streak of consecutive gains for any specific weekday in the history of the DJIA. Since the current streak of consecutive up Tuesdays began on January 15th, the DJIA has rallied 1,902 points, of which 1,573 points (83%) have come on Tuesdays!
While the DJIA has been up in each of the last 20 Tuesdays, not a single stock in the index has seen a similar streak. With 18 up Tuesdays over the last 20, 3M (MMM) has been the most consistent DJIA stock over the last 20 Tuesdays. In terms of percentages, Bank of America (BAC) has the best average performance over the last 20 Tuesdays with an average gain of 1.03%. On the downside, Alcoa's (AA) Tuesday performance once again proves its irrelevance in the index. Over the last 20 Tuesdays, the stock has only been positive eight times with an average increase of just 0.12%.