June 6, 2011 Drop Continues
With the DJIA and the S&P500 falling for the fourth day in a row, they lost not only their advances gained over the just completed four increases in a row, but also their prices dropped to the levels of mid-March. The NASDAQ, which retreated only for the second successive day, nevertheless, fell also to its March price.
The last five trading days cost the NASDAQ -4.68 percent, the S&P500 gave up -4.39 percent while the DJIA retreated -3.81 percent. The pattern of closes, with the NASDAQ at -2, the DJIA as well as the S&P500 at -4, is exceptionally uncommon: only 26 were reported since 1950, while todays is just the third in the last 12 years. The next days changes in the past were negative twice, with just one gain.
Where will the market go from here? The data unfortunately do not have an answer to this most important question. Regrettably, we need to wait, just like everyone else, for the forthcoming days. DJIA -.50 percentNASDAQ -1.11 percentS&P500 -1.06 percent