FYI: Since its closing price of 16,484.99 a year ago on 2/24/16, the DJIA has rallied a tremendous 26% in a move that virtually no one at the time was predicting. What’s even more notable about the rally is how the gains have been confined to four distinct legs higher. From late February to mid-April of 2016, after what was the worst start to a year in the market’s history, the DJIA saw the first leg higher rallying 17.9%. At that point, it rested for a little over two months, and then spiked 9.1% in late June following the Brexit vote, in what again was a rally that very few would have predicted at the time. Towards late July, the market shifted its focus on the November election and drifted lower all summer and into early fall.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/four-legged-rally/
