USMarketView

September 9, 2011                 Another Worse than 2.4 Percent Dip

 

Values eroded during this shortened holiday week, that ended with Friday’s losses of -2.42 percent for the NASDAQ,  -2.67 for the S&P500 and -2.69 percent for the DJIA. Today’s pattern of two successive losses occurred on 159 days since the end of 1999. But going back to Thursday of the week before, the pattern becomes  -2/+1/-3, a sequence seen only three other times in this century.

 

Prices declined sharply after hitting their top on July 7, 45 trading days ago. The total loss for the S&P500 from then to today, amounts to -14.7 percent. While significant, this decline ranks only as the 235^th worse in this decade’s near 3,000 trading days.

 

Looking to Monday, we can expect prices to recover: they did so in two of the three previous repeats of this pattern.

 

DJIA              -2.69 percent

NASDAQ      -2.42 percent

S&P500         -2.67 percent

This entry was posted on Saturday, September 10th, 2011 at 12 052011000000Sat, 10 Sep 2011 17:02:56 +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.