Can the streak continue? This year, Tuesday is the best day of the week on Wall Street. The Dow Jones industrial average has risen 17 straight Tuesdays. The last down Tuesday was the first one of the year – January 8. Last Tuesday, the Dow closed above 15,000 for the first time.
The only same-day streak that lasted longer was in 1968. The Dow rose on Wednesday for 24 weeks in a row – from June through November – according to Schaeffer’s Investment Research.
Part of the reason for Tuesday’s success is simple math. The Dow has been up a high percentage of days this year. The blue-chip index has climbed 58 out of 90 trading days, or 64 percent of the time.
It has been a year of records and winning streaks for the Dow. The index rose for 10 straight days between March 1 and March 14, its longest string of consecutive gains since 1996. During that run, the Dow rose above 14,165, surpassing a record that had stood since October 2007.
During the Tuesday streak, the average gain for the Dow has been 0.53 percent.
The day everyone loves to hate has lost an average of 0.23 percent this year.Associated Press