What were the confirmation days on the Dow back in October? (December 7, 2000)
October 19 was the rally day after the previous session tapped all the way down to 9654.64 on the low and rallied to close at 9975.02. On that day the Dow rose 167.96 points on strong volume. That move set the clock for counting the confirmation day. Four sessions later on October 24, the Dow rallied 121.36 points (+1.18%) on rising, above average volume (1.157 billion shares). Then, on October 30, the eighth day of the rally, the Dow jumped up 245.15 points (+2.3%), again on rising volume (1.16 billion shares). Since that time the Dow has never undercut the low at the start of the rally and thus the rally has been maintained.
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