February 5, 2009
After yesterdays positive closes, the market moved higher adding another step to the ongoing up and down pattern of these indices. Todays change in direction is the fourth in the last seven days. The history of the DJIA and the S&P500 shows just 11 such days since 1954, while the NASDAQ has nine since its record started in 1970.
Four of these eleven closes came when prices were reaching their peaks between 1994 and 1998, with a fifth at the top in 1976. There were two near the bottom in 1988 and 2002; three when prices were moving higher in 1954 and the 1970s; and one last June, when prices were moving lower.
The next day brought higher prices in the past, with the DJIA leading with 10 gains and 1 decline, while the S&P500 moved higher nine times. The NASDAQs shorter record shows five increases and four declines
DJIA 1.34 percent
NASDAQ 2.06 percent
S&P500 1.63 percent