January 27, 2012 Mixed Days Continue
The DJIA and the S&P500 lost ground today whereas the NASDAQ moved higher. Further, the closing changes were narrow, ranging from the positive .38 percent of the NASDAQ to the DJIA’s loss of -.58 percent, with the S&P500 down -.16 percent.
At the end of the week’s last session, the resulting pattern was +1 for the NASDAQ and -1 for the other two indices, a combination seen only 21 other days since the beginning of 2000. However, their distribution does not show a useful projection pattern. Almost all, 18 in total, occurred between the 2000 top and the 2007 peak, with the other three since the March 2009 bottom.
These changes do not provide a useful guide for Monday, because the following day changes consist of 11 gains and 10 losses.
DJIA -.58 percent
NASDAQ .38 percent
S&P500 -.16 percent