Chart of the Day - Thursday, December 12, 2024

🏆 Today's Chart of the Day was shared by Evan Medeiros (@evanmedeiros). 
 

• After making an all-time high last Wednesday, the Dow has dripped lower for six consecutive days, pulling back a measly -2.5% on a closing basis. 
   
• Evan points out that volume has been below average throughout this orderly pullback., indicating a lack of bearish conviction. The uptrend remains fully intact, as $DIA hasn't made a lower low. 
   
• Six-day losing streaks are more common than you might think, but if the Dow closes lower again tomorrow, it will be the first seven-day losing streak since the COVID crash of February 2020. 
   

The Takeaway: The Dow fell for the sixth consecutive day, but the pullback has been quiet and orderly.