TRUMP STOCK MARKET RALLY CONTINUES – Still Historic and Still HUUGE!
Guest post by Joe Hoft
The Trump Stock Market Rally since the election is of historical proportions and it is just getting better.
What we have witnessed since President-Elect Donald Trump won the election on November 8th, has never occurred before.
Out of 29 days since the election, the Dow has reached all time closing highs 17 of these days!
On another seven of these days the Dow landed at its second highest close ever up to that date!
For nearly a third of the closings since the election, the Dow has reached new highs. For more than 80% of the closing bells the Dow has either reached a new high or its second highest closing to date. For only five days since the election, the Dow has not reached one of these two milestones. The DOW has increased 9% during this time.
The Trump Rally is Historical!
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 8 times in the history of the Dow where the Dow set new closing highs for 17 days or more in a 29 day period. The last time this occurred was nearly 20 years ago in 1998.
The DOW has never in its history reached the number of closing bell highs after an election. (The rally in 1928 started in October before the election.) Under Obama’s Presidency new Dow Jones daily closing highs were sparse. The last daily closing high before the November 8th election was in August. This is why the ‘Trump Rally’ is such an anomaly.
America better get used to winning!