Three Down Weeks in a Row? Now Rare

CNBC is claiming "the market" has not seen 3 down weeks in a row since January 2010.  I ran a weekly chart to cross reference this because it seemed impossible with 'flash crash', the tough summer of 2010 (pre Jackson Hole Wyoming) and perhaps the November selloff due to Ireland.   I do see three down weeks last August in the S&P 500 chart right before Bernanke promised to manipulate asset prices upward via the QE2 era, so I think CNBC might be wrong.  The same pattern goes for the DJIA.

Needless to say three down weeks in a row has become a rare thing.  When we do sell off, it is fast and quick - and right after said selloffs we have "V shaped" rebounds that once were rare (pre 2009) but now are the rule.

Thus far we are off to a rough start to this third week of selloff, and have only three (and a half) days to make it up.

p.s. on the previous entry I forgot to write another strategy is to wait for a new low of the day now that we are in a few hours in, and jump in at that point on the short side.  That would be a break of 1295....