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February 24, 2011        NASDAQ Up But DJIA and S&P500 Down Again

 

The sharp correction of the past two days may have run its course: even though the DJIA and the S&P500 declined for the third straight session, their losses, only -.31 and -.10 percent, are modest. In addition, the .55 percent NASDAQ   gain ranks in the lower third of its 700 positive closes in the past ten years.

 

Today’s pattern of  -3 (negative closes) for the DJIA and the S&P500, with the +1 (positive close) for the NASDAQ, has occurred just 52 times since 1950. The last ten –since January 2000- were followed by eight positive closes and two decreases. S&P500, combined with the NASDAQ increasing again is small. That transpired just once since 2000. The likelihood of a NASDAQ decrease on Friday is greater, since there have been 38 all told, with two in the last ten years.

 

Furthermore, the possibility of a fourth straight loss for the DJIA and the

S&P500, combined with the NASDAQ increasing again is small. That

transpired just once since 2000. The likelihood of a NASDAQ decrease on

Friday is greater, since there have been 38 all told, with two in the last ten

years.

 

 

 

DJIA              - .31 percent

NASDAQ        .55 percent

S&P500          -.10 percent

This entry was posted on Thursday, February 24th, 2011 at 12 072011000000Thu, 24 Feb 2011 19:05:38 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.