August 25, 2011 Prices Close Lower
Values fell for the first time this week with the DJIA off -1.51 percent, the S&P500 down -1.56 percent and the NASDAQ losing -1.95 percent. This is the 26th repeat of this pattern, -1/+3 in this century. The majority of these closes occurred when the trend of prices was up. For example, not even one crossed the tape during the 2007/2009 decline.
Prices on the following day moved higher far more often than they declined. The S&P500 record shows 19 gains against only 6 losses; the DJIA moved higher 18 times and fell on 7 days. The NASDAQ, though, shows a weaker next day, with only 15 advances and 10 declines.
Todays projection calling for declines was realized.
DJIA -1.51 percent
NASDAQ -1.95 percent
S&P500 -1.56 percent