USMarketView

April 28, 2008

Ending their three day streak, these averages turned negative during the last hour of trading, whereas the NASDAQ stayed positive, gaining .06 percent at the close. The losses in the DJIA and S&P500, however, were quite small, -.16 percent and -.11 percent, respectively.

Today’s pattern of an increase in the NASDAQ with declines in the other two indices, is the third of 2008; following the March 4 and February 8 incidents. There have been 123 other such closes since January 2000, accounting for 6.2 percent of all trading dates in this century.

As for today’s minute changes in the DJIA and the S&P500, about nine percent of all closes in the period between 1950 and the end of 1999, were in the zero to minus .16 percent range. Their frequency has declined a bit in the current decade, falling to 8.9 percent for the DJIA and 7.5 percent for the S&P500, implying that daily changes are on the increase.

DJIA -.16 percent

NASDAQ .06 percent

S&P500 -.11 percent

This entry was posted on Monday, April 28th, 2008 at 12 042008000000Mon, 28 Apr 2008 16:09:46 +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.