August 19, 2008
The NASDAQ fall continued for the third session in a row. The DJIA and the S&P500 followed suit, closing in the red, the second time this week.
As described yesterday, this is the 17th repeat, since 2000, of the sequence -3/+1 for the NASDAQ and -2/+2 for the DJIA and the S&P500.
Ten of these occurred during the 2000-2002 bear market. There were two each in 2004 and 2005; and although prices were rising, three of these happened just before retreats temporary temporarily interrupted the upturn in values.
As for the following day, in the past the DJIA fell ten times for another day, increasing only on seven days. The S&P500 had one more positive day, a total of eight increases and nine declines. The NASDAQ had the best performance: eight further declines and nine positive closes on the next day.
DJIA -1.14 percent
NASDAQÂ… -1.35 percent
S&P500 - .93 percent
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