Guest post by Joe Hoft
The ‘TRUMP STOCK MARKET RALLY’ continues to shatter the record books. What we have seen since President-Elect Donald Trump won the Presidential election on November 8th, has never occurred before.
Out of 23 days since the election, the Dow has reached all time closing highs 15 of these days!
On another five of these days the Dow landed at its second highest close ever up to that date!
For more than 65% of the closings since the election, the Dow has reached new highs. For more than 87% of the closing bells the Dow has either reached a new high or its second highest closing to date. For only three days since the election, the Dow has not reached one of these two milestones. The DOW has increased more than 6% during this time.
This Trump Rally is an Historical Event!
We downloaded all daily closing amounts of the Dow Jones Industrial Average since January 5th of 1905 – more than 110 years of daily Dow closing data to compare the ‘Trump Rally’ to other rallies in the history of the Dow.
From an updated analysis of this data, there are only 10 times in the history of the Dow where the Dow set new closing highs for 15 days or more in a 22 day period.
The only other time in history where the Dow reached such significant highs after an election was in 1928 when Herbert Hoover was elected President. The difference between now and then is that there were numerous new Dow daily closing highs in the ‘Roaring 20’s’. Under Obama new Dow Jones daily closing highs were sparse. The last high before the election on November 8th was in August. This is why the ‘Trump Rally’ is such an anomaly.
Trump was getting massive numbers at his rallies before the election, now he is getting massive stock rallies since being elected President of the United States of America! America is hopeful again!