As often in the past,
prices closed lower after their string of four increases in a row. Moreover, the NASDAQ loss of -1.92 percent was far deeper than the -.10 percent DJIA setback. Indeed, while the indices roamed in positive
territory until late afternoon, the DJIA fell into the red only at the very
end. The loss posted by the S&P500
also was more moderate, at -.35 percent.
The results on the
following day reveal a curious distinction between the pre 2000 and the years
of this century. There is an almost
equal number of positive and negative closes in the 40 days before 2000;
however, since then, the number of increases outnumber declines by a
substantial proportion.
Of the 17 such days
since January 2000, the S&P500 increased 14 times, the DJIA 13 times and
the NASDAQ had the fewest, with 11 gains compared to 6 losses.
DJIA
-.10 percent
NASDAQ
-1.92 percent
S&P500 -.35 percent