February 7, 2012 Small Increases Follow Yesterdays Smaller Losses
Todays market closed in an almost symmetrical move, correcting yesterdays odd profile. On Monday, prices declined after several advances, whereas todays close was the 220th repeat of an uptick after a single loss. Both the DJIA and the S&P500 gained .31 percent, whereas the DJIA and the NASDAQ lost .13 percent the day before.
Surely, this is a coincidence! Nevertheless, these are the facts.
Analyzing the combined pattern of Monday and today, of a +1/+1/+1 pattern following the -1/-1/-1 of the day before, the data reveal an almost equal number of plusses and minuses. Two other features deserve attention. First, on the following day, whether prices fall or rise, on the following day, the average loss hovers near zero; two, but the range goes all the way to 5 percent.
DJIA .31 percent
NASDAQ .08 percent
S&P500 .31 percent