April 25, 2012 NASDAQ Snaps Losing Days
The NASDAQ jumped 2.30 percent, breaking its near record string of five declines in a row. While large, this gain ranks only as the 226th largest since the beginning of 2000.
Yet, NASDAQ closes on the following day ranged from minus 7.6 percent to plus 7.2 percent. Such a large span is reasonable if the change, as today’s, is the result of one company’s unusual earnings report.
Today’s pattern, with the DJIA and the S&P500 advancing for the second day in a row, is only its 24th repeat. On the following day, the record of the past 13 years, shows an even number of further increases and declines.
DJIA .69 percent
NASDAQ 2.30 percent
S&P500 1.36 percent