March 28, 2012 Another Decline
The last four sessions, two successive losses following two straight advances, yield a pattern seen just 31 times since the beginning of 2000. These days, furthermore, are distributed almost equally between rising and falling markets. In addition, on the following day, the number of increases is just about equal to the number of declines. Finally, the size of these daily changes is quite constant, whether positive or negative.
It seems reasonable, therefore, to conclude that these dimensions fail to hint at the direction of prices in the future.
DJIA -.54 percent
NASDAQ -.49 percent
S&P500 -.49 percent