June 19, 2008
Today the NASDAQ index shot up 1.33 percent, and while the DJIA and the S&P500 moved higher, their gains were limited to .28 percent and .37 percent, respectively. Such disparate performance, that is the NASDAQ soaring higher by about four times the rate of the other two indices, happened just three times before 2000, and five times in this century. One of these, the last one, occurred on April 10 of this year.
In the past, the day after such gains, saw almost an even number of increases and decreases. However, the losses were substantial, whereas the gains were minimal. For example, on April 11, 2008, each of the three indices lost about two percent.
As for the recent pattern of each individual index separately, that is, isolating their performance* from the others in the past, the NASDAQ has a record of ten increases and no declines on the following day.
The S&P500 had an equal number of losses and gains, six of each since the turn of the century. The DJIA, with 16 such closes, had 12 losses and only four gains on the next day.
DJIA .28 percent
NASDAQ 1.33 percent
S&P500 .37 percent
*The recent daily pattern of each index is
DJIA todays positive, after three negative days,after two positive days.
NASDAQ and the S&P500 todays positive, after two
negative days, after three positive days.