February 29, 2012 Market Declines
The three indices turned down, following four plus days by the NASDAQ and the S&P500. While the DJIA fell, continuing its recent streak of up then down days. Todays close is the 479th repeat of this pattern down after an up day- in the more than 3,000 trading days since the beginning of 2000. On the following day in the past, all three indices came back positive less than half of the time, with only 220 such follow-ups.
With most of these upturns happening during the 2003/2007 and 2009/2012 expansions, todays pattern continues the recent replication of combinations usually experienced in bull markets.
DJIA -.41 percent
NASDAQ -.66 percent
S&P500 -.47 percent