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April 6, 2011    Gains
Continue – NASDAQ  Closes at 99.99
Percent of 2007 High

 

 

With the NASDAQ moving
higher for the second day in a row, while the DJIA and the S&P500 also increased
after Tuesday’s losses, the market repeated a pattern seen 33 times since 1999.
However today’s gains,  .67 percent for
the DJIA,  .31 percent for the NASDAQ,
and .22 percent for the S&P500, are far below the average of these previous
changes. The mean gain for the NASDAQ is 1.87 percent, for the DJIA 1.37
percent and 1.49 percent for the S&P500.

 

The outlook for tomorrow
based on past performances of this pattern yield an almost even balance between
a further gain and a decline.

 

Today, the NASDAQ almost
returned to its 2007 high of 2802.91. It achieved a similar level earlier this
year and indeed surpassed that record for six days between February 11 and February
18, 2011. Will it continue to move higher or will it fall again?

 

DJIA                .67
percent

NASDAQ        .31
percent

S&P500          .22 percent

 

This entry was posted on Wednesday, April 6th, 2011 at 12 112011000000Wed, 06 Apr 2011 23:51:37 +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.