Tuesday, June 26, 2018

A Disappointing End to a Dow Streak

A winning streak extending nearly two years for the Dow Jones Industrial Average ended yesterday. The Dow closed sharply lower, falling around 328 points to 24,252.80, below its 200-day moving average, which stood at 24,280.02.

The Dow hadn’t closed below its 200-day moving average for 501 consecutive trading days, going back almost two years exactly to June 27, 2016. That's the point at which the market reacted negatively to the U.K. Brexit vote.

The streak of 501 consecutive trading days above the 200-day moving average is the Dow’s third longest since 1952, when the New York Stock Exchange began its current five-day-a-week trading schedule. The only longer stretches were a 652-day run that ended in May 1956 and a 715-day stretch that ended in October 1987.

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