July 29, 2010 — Market Falls Again


 

The NASDAQ and the S&P500 closed down for the third successive day, losing  -.57 percent and  -.42 percent; the DJIA’s count of daily changes,  off  -.29 percent, now comes to two losses in a row.   So once again, prices continue to repeat their see-saw of down and up, lasting for a few days, only to replicate the same pattern, but in the opposite direction. Thus today’s prices remain more or less in the same place as 11 trading days, or two weeks, ago.Yet, despite the recent replications, the latest daily patterns of changes are few and far between. For example, today’s configuration has occurred just four other times in the past 11 years –while the 1950-1999 happenings come to no more than 14.Consequently the market continues to move within narrow boundaries since early this year, rising to a peak in April after January’s decline, and rebounding now from the earlier low this spring.Turning to tomorrow, in the past the day following this pattern, came in positive 10 times and negative about 8 times. Yet the NASADAQ and S&P500 count of increases rises to four for four since 2000, and the DJIA stands with three gains and one loss.   DJIA          - .29 percent     NASDAQ      - .57 percent  S&P500     - .42 percent

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