Thursday, July 20, 2017

What happens to stocks after an all time high?

Based on daily AMZN closing prices from 07/07/97 to 07/20/17 the issue made all time highs 237 times.  The issue continued to rally on the following day 122 times.  The largest following rally occurred on 11/23/98 when the issue closed higher by 21 percent.  The largest following correction occurred on 09/15/97 when the issue closed lower by -16 percent.

Based on daily IWM closing prices from 05/31/00 to 07/20/17 the issue made all time highs 247 times.  The issue continued to rally on the following day 130 times.  The largest following rally occurred on 06/02/00 when the issue closed higher by 5 percent.  The largest following correction occurred on 09/22/08 when the issue closed lower by -4 percent.

Based on daily PCLN closing prices from 04/01/99 to 07/20/17 the issue made all time highs 82 times.  The issue continued to rally on the following day 44 times.  The largest following rally occurred on 04/27/99 when the issue closed higher by 7 percent.  The largest following correction occurred on 05/03/99 when the issue closed lower by -14 percent.

Based on daily QQQ closing prices from 03/16/99 to 07/20/17 the issue made all time highs 128 times.  The issue continued to rally on the following day 72 times.  The largest following rally occurred on 12/21/99 when the issue closed higher by 4 percent.  The largest following correction occurred on 01/04/00 when the issue closed lower by -7 percent.

Based on daily SPY closing prices from 02/02/93 to 07/20/17 the issue made all time highs 447 times.  The issue continued to rally on the following day 204 times.  The largest following rally occurred on 06/12/97 when the issue closed higher by 2 percent.  The largest following correction occurred on 01/04/00 when the issue closed lower by -4 percent.

Based on daily XLV closing prices from 12/24/98 to 06/23/17 the issue made all time highs 246 times.  The issue continued to rally on the following day 132 times.  The largest following rally occurred on 04/12/99 when the issue closed higher by 3 percent.  The largest following correction occurred on 01/21/99 when the issue closed lower by -3 percent.

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