Therefore, it's worth repeating what we observed at the beginning of the year following a 7 day consecutive decline:
Here's what happened following those rare uninterrupted declines lasting seven days or longer:
7-day decline ending Jan 30, 1990, followed by a 12-day 6.28% rally
7-day decline ending Nov 12, 1997, followed by a 12-day 10.12% rally
8-day decline ending May 18, 2006; the swing bottom came in 3 days later, and the Qs bounced up for 6 days and a 3% gain.
8-day decline ending June 13, 2006, followed by a 2-day rebound and a gain of 3.75%. The market bottomed a month later.
7-day decline ending Sept. 9, 2008, followed by a 2-day rebound, 2.7% gain.
8-day decline ending Oct 10, 2008, followed by a 1-day 12% rebound. The index bottomed a month later on Nov 20th.
11-day decline ending July 2, 2010, followed by a 8-day 7.3% rally
9-day decline ending May 18, 2012, followed by a 6-day 3.37% rally. The index bottomed three days later.
That's a 6-day 6% bounce average.