Falling prices reversed the markets direction for the fourth time in the last four days – a pattern observed just 6 times in the past 11 years. Further, almost all of these occurred near the end of an upswing; indeed, one happened a few days after the October 2007 market top.
In the past, prices continued their decline on the following day 4 out of 6 times for the NASDAQ and the S&P500; the DJIA split evenly with 3 increases and 3 decreases.
Turning the focus to the Thanksgiving week, todays market -the day after the holiday- turned higher 6 times over the last 10 years. On the following Monday, the NASDAQ rose 5 times and fell the other 5 days. The DJIA and the S&P500, while almost evenly split, had 6 declines and 4 increases.
DJIA -.85 percent
NASDAQ -.34 percent
S&P500 -.75 percent