May 8, 2012 DJIA Down Fifth Day Almost a Never Before
Our diagram shows the 29 other closes in this century when the DJIA closed lower for five successive sessions. Further, with the fifteen red dots indicating a further decline for the following day, there is a near 50 percent chance that tomorrow’s close will bring a further loss.
More alarming, is the many days clustering at turning points, when the trend of price changes shifts from up to down.
Further, no single day since the beginning of 2000, shares today’s pattern of five successive declines for the DJIA, two losses in a row for the NASDAQ and a decrease for the S&P500.
DJIA -.59 percent
NASDAQ -.39 percent
S&P500 -.43 percent
