Todays losing session was the second for the week, and despite the colossal cut in the Fed Funds rate, the market could not sustain Wednesdays and Thursdays increases.
Yet the DJIA gained .89 percent for the week while the S&P500 closed .41 percent higher than last Friday. The NASDAQ however lost -.59 percent this week.
Even though we had three losing weeks (four for the NASDAQ) this month, this is not unusual for January. Only 18 of the 38 January weeks since 2000, closed higher, with declines in the other 20 weeks.
Indeed, three negative weeks occurred not only this year, but also in 2000, 2003, 2005, and 2007. And only some of those years were big losers, while others scored equally impressive gains.
DJIA -1.39 percent
NASDAQ -1.47 percent
S&P500 - 1.59 percent