Today’s close follows two successive declines after a previous gain. This is the fourth time this +1/-2/+1 trading pattern occurred since the beginning of July. The diagram highlights these similarities.
Since 1950, there have been 363 of these +1/-2/+1 closes, with 62 since 2000, and six so far this year.
The S&P500 1.36% gain today compares favorably with the .62% average increase on this fourth day of the +1/-2/+1 trading pattern.