April 23, 2012 NASDAQ Down Again
The NASDAQ lost a full point as it fell for the fourth session in a row. Though the DJIA and the S&P500 also fell, their small increases last Friday kept them out of the ‘down four days in a row’ category.
Today’s combination NASDAQ down four in a row, while the DJIA and the S&P500 declined after rising the day before- is the 13th repeat in the past 13 years. Our diagram locating these closes, shows most occurring between 2000 and 2007, with this current close the first since 2009.
Moreover, today’s losses, ranging between -.78 and -1.00 percent, are far smaller than the average loss for this pattern in the past. These were near double, running between -1.18 and -2.03 percent.
Turning to the following day, higher prices, the green dots, dominated expansions. They rose twice as often during rallies than when the market turned down.
DJIA -.78 percent
NASDAQ -1.00 percent
S&P500 -.84 percent
