February 11, 2009
Prices recovered today, but the gains failed to come anyway near making up the sharp reversals of the day before. The S&P500, led with a .79 percent increase, followed by the DJIA with .64 percent and the NASDAQ finished last, at .38 percent.
This positive comeback is welcome, of course, but it is far smaller than past changes, on the next day, following deep losses by all three indices. Those top gains were in the 6.6 percent range, while the average ran from 1.31 percent for the NASDAQ to 2.15 percent for the DJIA.
On the downside, when the indices retreated further on the following day, losses were substantial. The NASDAQs sharpest decline was -9.0 percent; the S&P500s greatest was -6.7 percent and the DJIA fell -5.6 percent.
While the uptick in itself was a relief, it came in close to the following day results of the past. Since 1987, the NASDAQ moved up on 10 of the following 17 days; whereas the other two indices moved ahead 12 times.
In summary, the days results are in line with the past, except that the size of the restoration is significantly less than the record.
DJIA .64 percent
NASDAQ .38 percent
S&P500 .79 percent