USMarketView

November 9, 2007

This week closed as it opened: down — and saw only one positive day, on Tuesday.

While negative weeks are not unusual –there have been 155 of these, or 39 percent of all, since 2000- this week’s decline is far greater than the median. Indeed, the minus 6.49 percent NASDAQ loss this week is the deepest since April of 2000. The DJIA and the S&P500, as shown in the table below, marked similar drops.

As for Friday’s results, the third straight negative trading day in a row, the three indices lost big. The NASDAQ, dropped -2.52 percent, far in excess of its median loss of -1.37 percent for the third successive down day. The DJIA’s loss of -1.70 percent also exceeded its third straight decline median of -.62 percent. The S&P500 was off -1.44 percent, again almost double its median thord day loss of -.78 percent.

Looking forward to Monday, the record since January 2000 indicates that a fourth straight loss fpr the S&P500 and the DJIA occurs less often than a positive close after three successive losses. For the NASDAQ, however, the likelihood is about equal. The same result holds for the median changes, with the positive gains larger than the lossess, with the exception, again, of the NASDAQ

This entry was posted on Saturday, November 10th, 2007 at 12 032007000000Sat, 10 Nov 2007 03:37:56 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.