December 12, 2008
Todays market was up all day, despite fears that the auto bail out failure would set off a downward spiral. While the DJIA closed higher, it did not pass last Fridays close, whereas the other two indices succeeded, but just, in moving higher this week.
The disparity between the NASDAQ gain of 2.18 percent, almost triple todays DJIA and the S&P500 action, is unusual. Today is only the seventh time for this pattern. Yet while rare, checking the circumstances of these prior events, provides no guidance for the future course of prices: three of these occurred with rising prices and three were associated with declining values
DJIA .75 percent
NASDAQ 2.18 percent
S&P500 .70 percent