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June 20, 2011            Market Edges Higher 

 

 

 

Prices moved up early, then maintained most of their gains; the DJIA ended up  .63 percent, the S&P500 rose  .54 percent and the NASDAQ added  .50 percent. This close is the first since Thursday for the NASDAQ to move in the same direction as the other two averages.  Today’s pattern of three successive gains for the DJIA and the S&P500, with just one-day’s advance for the NASDAQ, is the 17^th repeat since the beginning of 2000.

 

Its last occurrence was quite recently, on April 15. Thereafter, prices moved down for a few days, and then spurted higher, with almost no interruption, to reach their highest level since 2007. Then prices started to decline, to reach their current levels.

 

Looking at the record for tomorrow, both the DJIA and the S&P500 moved higher twice as often as they declined, whereas the NASDAQ scored ten gains but fell six times.

 

The projection for today, based on the history of Friday’s pattern, called for gains of the DJIA and the S&P500; this did happen. However, the NASDAQ record, based on the six loss and five advance history that repeated on Friday, failed to develop.

 

DJIA               .63 percent

NASDAQ       .50 percent

S&P500           .54 percent

This entry was posted on Monday, June 20th, 2011 at 12 042011000000Mon, 20 Jun 2011 16:32:19 +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.