The table below displays the results of analysis on daily market momentum – the tendency of the market to increase one day, having also risen the previous day(s).
Notes on the analysis–
- The index analysed was the FTSE All-Share. The number of observations to September 2013 (from January 1969) was 11,284 days.
- The first row (“Total”) displays the number of consecutive days that the index rose. For example, the market rose 5967 days (out of the total 11,284); 3346 times it rose on 2 consecutive days; and 318 times it rose 6 days in a row. The second row (“% Total”) expresses the first row as a percentage of the total sample. For example, the market rose 6 days in a row 2.8% of the whole period (11,284 days).
- The rows “% 1 up” expresses the proportion of times that the market rose for n consecutive days following the market rising for 1 day (expressed as a percentage of the number of times the market rose once). For example: after the market had risen for 1 day, the market rose for a second day in 56.1% of all cases; after the market had risen for 1 day, the market went on to rise 6 days consecutively in 5.3% of all cases.
- The subsequent rows display the tendency of the market to rise following n consecutive increases. For example: after the market had risen 4 days consecutively, the market rose for a 5th day in 56.0% of all cases.
|% 1 up||56.1||31.0||17.3||9.7||5.3|
|% 2 up||55.3||30.9||17.3||9.5|
|% 3 up||55.8||31.2||17.2|
|% 4 up||56.0||30.8|
|% 5 up||55.0|
Analysis for other frequencies (i.e. week, month, year) can be found in the Almanac.