Yes, this is a really impressive market move. The NASDAQ’s 10-day win streak is nothing to sneeze at. But wait, maybe it is.
Eric Falkenstein checks out the odds of a move like this happening purely by chance:
Shocking? Not really. If we assume a 50-50 chance of rising, we should expect this to occur once every 10 years, and it did not happen in the prior 10. Below is the actual frequency of ‘runs’ (consecutive trending), compared to the 50-50 theoretical (actual markets go up 52% of days, but that’s not material here).
Statistics. Crazy stuff man.
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