After Wednesday’s decline, the markets are on track to have their first back-to-back losses since the first trading day of the month, which was followed by three consecutive days of gains.
Since October 6, however, the Dow has alternated between gains and losses.
If the Dow ends down Thursday, it will snap a 10-day streak in which the index was consistently up one day and down the next. That’s a rare feat, happening just 9 times since 1960.
And if the Dow ends up today, the index will have alternated directions for the eleventh straight day – an event that has only happened 5 other times throughout the Dow’s history.
Even with all the back-and-forth over the past 2 weeks, the net change for the Dow over the past 11 days (including today’s decline) is +485 points. The large move comes with 5 strong triple-digit gains and just 1 triple-digit decline during this period.
In fact, the Dow has closed with a triple-digit gain in each of the last 10 trading sessions that it has ended the day in positive territory. The last gain of fewer than 100 points was back on September 23.
Back in the Fall of 2008, the Dow registered 20 consecutive gains of at least 100 points. In between all those months, there were many triple-digit drops as well.