Prices extended the losses suffered on the session before Memorial Day to the the day after. The S&P500 dropped -1.72 percent, after Friday’s -1.33 percent. The DJIA lost -1.11 percent and the NASDAQ fell -1.54 percent.
Narrowing the field from the 141 other trading days when the three indices fell two days in a row since January 2000, to those when the S&P500 fell between -1.62 to -1.82 percent on the second day, the incidence falls to 7, with the 8th one experienced today.
The diagram identifies these with a trinagle. Significantly none occurred in a bull market while all seven came when prices were in a long run decline.
Furthermore, today’s pattern of association with downturns, becomes the first one, after the many other recent daily combinations identified with, and occurring as, values increased.
DJIA -1.11 percent
NASDAQ -1.54 percent
S&P500 -1.72 percent