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Why is everyone so afraid? Another cluster of DJIA Records.

Chart of the Day:It is the dog days of August, so we wouldn’t fault anyone for not noticing that the DJIA has been up for nine straight trading days (through Friday) and has seen record high closes on each of the last eight.  As shown in the red lines of the chart below, the current streak is the third time during the current bull market that the DJIA has seen eight or more straight record closing highs, and it’s actually the second such streak this year!  From 3/4/13 through 3/14/13, the DJIA closed at a record high for eight straight trading days, and then from 2/8/17 through 2/27/17, the DJIA tied a record for the longest streak of record closing highs at twelve trading days.

Source: Chart of the Day | Bespoke Investment Goup

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