March 16, 2012 DJIA Falls Ending Run at Seven Gains in a Row
Losing just .15 percent, the DJIAs declined after posting seven successive advances. While the NASDAQ also fell, the S&P500 closed higher, yielding the pattern of two up days for the S&P and a single down day for the other two indices.
While not as rare as yesterdays never-before combination, it is quite unusual, with just three previous closes in this century.
The diagram marks these earlier days with a vertical line, while the maroon column shows todays close. Their past occurrences reveal a negative panorama because two of the three preceded imminent tops with major declines thereafter.
Further, on the very next, following day, prices fell more than -1.2 percent, and the NASDAQ dropped -3.2 percent. However, only moderate declines occurred on September 12, 2007 just days before the market turned down in October.
DJIA -.15 percent
NASDAQ -.04 percent
S&P500 .11 percent
