June 17, 2011 Odd Pattern Lasts Another Day
The NASDAQ declined again, while the DJIA and the S&P500 continued to move higher. That makes it two days in a row for this unusual configuration that has occurred on only 11 previous sessions. The last such close and the sole instance in this century- was on January 6, 2000.
Yet unlike yesterdays repeat of the NASDAQ down with the DJIA and the S&P500 up, the data show no significantly unusual pattern on the heels of such duplication. Further, todays price changes the DJIA up .36 percent, the S&P500 gain of .30 percent whereas the NASDAQ fell -.28 percent- stand significantly lower than in 2000. Then the NASDAQ lost -3.88 percent and the DJIA dropped -1.17 percent, while the S&P500 retreated just -.096 percent.
On the next day, January 7, 2000, prices surged. The NASDAQ shot up more than four percent, while the DJIA and the S&P500 recovered almost three percent.
Overall, on the following day, the DJIA and the S&P500 prices rose twice as often as they fell, but the NASDAQ had six declines and only five advances.
DJIA .36 percent
NASDAQ -.28 percent
S&P500 .30 percent