Consilience, from Victor Niederhoffer
What have we here. Like an opponent who keeps hitting it to your weak spot over and over again, and beating you, and refusing to give up on a winning day, for the ninth day in a row the market is within a few points close to close for 12 of the last 13 days. And the only day it was up big, it closed just 3 points above the open on 1/10/2013. And we haven't had a decline of more than 3 points since weak longs were wasted out on 12/28/2010. You have to give the mistress credit. One notes that even a 3% decline in the Nikkei yesterday was not enough to overcome the resilience, the indomitable upswing from 1384 to 1457 in 12 trading days of the S&P. What else do we have here. One notes that there has been a run of 12 days without a decline (of a 1/4 of a % or greater than 1/4%). And its only happened like that for 12 days without sustenance for the bears just on 5 occasions since 2007. The expected moves after such hiatuses are neutral to positive for the next 8 days. There was just one occasion where the market went for 21 days without a decline of at least 1/3%. That was followed by a big decline of 1%. Hats off and hold all tickets.