USMarketView

January 7, 2008

Today marked the seventh uninterrupted decline of the NASDAQ; the first such run since June 2006, and only the fifth since January 2000.

But the other two indices moved up –with the S&P500 posting its first increase in five days. The DJIA also improved, after losing on three of the last four trading days.

While the market performance has been weak today’s changes show some upgrading over the record since the day after last Christmas –see the chart.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CONTINUED BELOW

In the last eight years, the NASDAQ had 19 trading days of eight straight losses; that’s exactly the same number of times that this index turned up after seven declines times in a row.

The statistics are similar for the DJIA: 19 increases after its recent closing pattern, and 18 decreases.

The record is not as promising for the S&P500, with only three positive days but nine declines since January 2000.

DJIA + .21 percent
NASDAQ - .21 percent
S&P500 + .32 percent

This entry was posted on Tuesday, January 8th, 2008 at 12 042008000000Tue, 08 Jan 2008 04:05:56 +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.