This Is The Most Boring Market In A Quarter Century
It will come as no surprise to anyone engaged in stock markets these days that the last two weeks have been incredibly slow.
What may come as a surprise (as it did to us) is that the over the past two weeks, the Dow Jones Industrial Average has stayed in its tightest trading range in more than 26 years (Bespoke Investment Group pointed this out).
The chart above shows the spread between the highest intraday level on the DJIA over the lowest level on a 13-day rolling basis.
Unfortunately, the data only go back to January 1, 1987 – but we can at least conclusively say that over the past two weeks, we've seen the tightest trading range since December 1986.
(There are a few times on the chart when the spread went north of 20 percent, but we zoomed in to show you the dynamics at the bottom of the chart.)