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.
Frequency | 0 | 1 | 2 | 3 | 4 | 5 | 6 | |
Daily | Total | 11284 | 5967 | 3346 | 1850 | 1033 | 578 | 318 |
% Total | 52.9 | 29.7 | 16.4 | 9.2 | 5.1 | 2.8 | ||
% 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.