Despite the Feds massive 75 basis point cut in the Fedeeral Fund rate, all three indices fell again. Todays close, after a long weekend, was the fifth straight decline.
There have been only 18 such strings recorded for the S&P500 since January 2000; The DJIA has 21 while the NASDAQ fell for five successive sessions 32 times.
The median drop on these fifth straight decline days is -1.09 percent for the S&P500 while the DJIA median is -1.05 percent. And todays results mirror that statistic as the S&P lost -1.11 percent and the DJIA fell -1.06 percent.
The NASDAQ record, however, shows 32 such successive declines, with a median fall of -.75 percent. Todays drop was much steeper, at -2.04 percent
To relate these results to, and to see how they occurred in, the losing days of the 2000-2002 period, consider these statistics: during that long decline, the DJIA had 94 consecutive three day losses, but only 80 days with three consecutive plus closes.
The NASDAQ score is 107 straight three day declines compared to 94 such positive closes.
The S&P500 was down three days in a row on 94 occasions but had just 62 positive three day runs.
The following figures show these results in graphic form, with the number of consecutive up and down days compared to the overall declines in these three indices.
