USMarketView

April 30, 2012                                     Prices Reverse Direction 

Prices declined, ending the string of straight  advances ; the DJIA and the S&P500 declined after four successive advances, while the NASDAQ’s string ended at three straight gains. It was the 11^th change of direction this month.If these up-then-down sequences seem a bit much, they are. April recorded eleven  direction changes, compared to nine the previous month, while there were only eight in February and March.Yet the record for the 2000 to 2011 period shows 1,637 daily direction changes for the 3,093 trading days. We have not found a systematic relationship between the frequency of daily direction changes and the trend of prices.As for the next day, in the past prices moved higher. 

DJIA                       -.11 percentNASDAQ              -.74 percentS&P500               -.39 percent

This entry was posted on Tuesday, May 1st, 2012 at 12 092012000000Tue, 01 May 2012 09:15:02 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.