The market failed to maintain the momentum which had moved prices higher for the past three sessions. The S&P500 fell -1.15 percent, the NASDAQ lost -1.11 percent, and the DJIA at - 1.03 percent was down the least.
Today’s pattern therefore of -1/+3 comes as the 21st repeat since January 2000 and the 61st after 1949. The record shows gains on most of the following days. Whereas the NASDAQ had 13 advances and 7 declines the next day, the &P500 has a favorable ratio of 4:1 with just four declines against 16 gains.
DJIA -1.03 percent
NASDAQ -1.11 percent
S&P500 -1.15 percent