June 8, 2011 Another Loss the Sixth in a Row
Its hard to believe that prices fell again! The last time the combination- six successive declines of the DJIA and the S&P500 combined with a four-day decline of the NASDAQ- occurred was in 1978.
Clearly, runs this long are rare. Yet the more significant part of these chains of down days is that they parallel market tops. Todays two diagrams show these incidents near the market tops of March 2000 and of October 2007.
A brief look reveals the long runs clustering near market reversals. Enough said.
DJIA -.18 percent
NASDAQ -.97 percent
S&P500 -.42 percent
