Values moved higher most of the day, but then turned lower. At the close, the NASDAQ lost -.10 percent, whereas the S&P500 rose .09 percent and the DJIA gained only .06 percent. The size of today’s changes is quite similar to results of recent sessions.
Indeed, prices remain quite close to October 18th . Over the the past two weeks, the DJIA fell from 11143.69 to 11124.62, losing -.17 percent. Similarly, the S&P500 dropped -.03 percent. The NASDAQ moved higher over this period, but gained less than one percent.
This performance lags, and results in smaller gains than, than the median ten day change rate of 2010. Earlier this year, half of the NASDAQ 10 change rates exceeded 1.36 percent, while the other half fell below 1.36 percent. Likewise, the S&P500′s median ten day change of 1.42 percent overpowers the past ten days rate of -.03 percent. The DJIA also reports a median change of 1.33 percent.
Generally, a reasonable relationship between price changes and price levels expects increases to taper down at or before market peaks and losses to become smaller at troughs. However, in examining the record, so far, we have failed to find a general relationship between these ranges and turning points.
DJIA .06 percent
NASDAQ -.10 percent
S&P500 .09 percent