September 28, 2011 Market Turns Down
Though prices declined, the history of todays pattern of -1/+3 continues to confirm the markets status as expansionary. Of the 26 such days since the beginning of this century, 21 occurred during the expansions of 2003/2007 and since the lower turning point of March 2009.
As for the expectation for tomorrow, based on the record of these same pattern days, gains are likely. Of the above-mentioned history of the 21 expansion days, prices moved higher 18 times on the following day.
Yesterdays projection of falling prices for today was correct.
DJIA -1.61 percent
NASDAQ -2.18 percent
S&P500 -2.07 percent