Volatility is back. The Dow has closed up or down 100 points five consecutive days. And as of noon, the Dow is up more than 100 points, so there’s a shot at six straight.
Digging into it, since 1997 there have been 22 other times the Dow has moved more than 100 points five days in a row. Looking at the results, near-term this isn’t very bullish. In fact, a month later it is down 0.89% on average and up just 45% of the time. Sure there are always exceptions, but usually a lot of volatility tends to happen during corrections.
Here is a list of all the 22 occurrences.