December 22, 2011 Prices Advance
The day had no significant developments, at least from the analytical point of view. The DJIA and the S&P500 closed up for the third straightday while the NASDAQ also moved higher after yesterdays decline. The resulting pattern occurred a mere 17 previous times in this century.
Yet, because these days are not distributed in ways that relate to stock market swings, they do not provide any insights about the future.
As for tomorrow, in the past negatives dominated the day following this pattern, with 11 declines and only 6 advances.
Please note that the NASDAQ as well as the S&P500 rose by the identical percentage today. This coincidence should not, given current knowledge, be meaningful in terms of projecting future price movements.
DJIA .51 percent
NASDAQ .83 percent
S&P500 .83 percent