November 10, 2008
The indices declined, and as often this year, continued their seesaw. Todays fall follows Fridays increase, which came after two straight, and severe, down turns. It is a first for 2008, although this -1/+1/-2 pattern has occurred seventeen times since January 2000.
On the day following such closes, all three indices fell further just seven times but reversed direction, continuing the up and down oscillations, ten times.
The diagram of the DJIA closing prices since 2000, marks these days with vertical lines. It is clear that most of these -1/+1/-2 events are associated with trends of falling prices.
DJIA -.82 percent
NASDAQ -1.86 percent
S&P500 -1.27 percent