August 18, 2008
With the NASDAQ dropping -1.45 percent for the second straight session, and the other two indices also losing near -1.5 percent, this was the first time since July 28 that all three lost more than -1.0 percent in a single day.
It was the sixth time since January 2000 for this combination: the NASDAQ having one additional down day than both the DJIA and the S&P500.
The NASDAQ string being -2/+1 while the other two indices have a -1/+2 pattern.
Importantly, three of these days came during the 2000-2002 downturn; one occurred on June 12 of last year, just before the market top, and the other two were on December 14, 2007 and on May 5 of this year, in the current decline.
DJIA -1.55 percent
NASDAQÂ… -1.45 percent
S&P500 -1.51 percent