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Mark Hulbert: September saw this rare — and bullish — trifecta for the stock market

CHAPEL HILL, N.C. — If the most bullish thing the market can do is go up, the stock market could hardly be more bullish.

For the first time in over three years, each of the three major Dow stock market averages has just hit a new all-time high — the Dow Jones Industrial Average DJIA, -0.02% , Dow Jones Transportation Average DJT, +0.37% and Dow Jones Utility Average DJU, +0.05% This development is rare: It’s happened in fewer than 4% of the months since 1970.

But here’s the even better news: Never have any of these prior events occurred at a bull market top.

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