USMarketView

September 3, 2008

The market slide continues, and although the DJIA rose today, its gain was a mere .14 percent.

The pattern of closes since last Friday then is -3 for both the NASDAQ and the S&P500, and 1/-2 for the DJIA. This is only the 15^th time, since 1950, for this tally – and the fourth time in this century.

While these days can be associated with bear markets, there are nevertheless, occurrences when prices were not declining.

Moreover, while recent USMarketView reports seem to emphasize the message that many of the latest results are similar to observations, in recent years, when prices were in a substantial decline, a brief look at closing prices to date, since January 2, reveals that despite frequent losses, these indices are moving higher. Albeit that they are substantially below recent highs.

 

 

 

 

 

 

 

 

 

 

 

 

Therefore, while the earlier recovery stalled in mid-May, and losses continued until mid-July, the recent trend has been up, even though declines outnumber increases as of August 11. In short, to summarize, despite many negative signals, it is far from clear that prices are in a downtrend. Indeed the market remains significantly above the lows of March.

DJIA .14 percent

NASDAQ… -.66 percent

S&P500 -.20 percent

This entry was posted on Wednesday, September 3rd, 2008 at 12 052008000000Wed, 03 Sep 2008 17:09:59 +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.