All Ords Index - 7 consecutive up days in conjunction with a 250-day closing high suggests further gains. Yesterday, the All Ordinaries Index closed up for the 7th consecutive day in conjunction with a 250-day closing high (approximately 1 year maximum closing level). This type of upward momentum is usually followed by more upside. Since 1980, following this particular market setup, the All Ordinaries Index provided an additional average 20-day gain of 2.36% with a respectable win rate of 21 from 29 observations. Full data analysis & tables can be viewed at (VIEW LINK)
PT - does this scenario hold strong even after a clanger like today?