May 22, 2012 Not Much Change
The NASDAQ closed lower, but just by -.29 percent, while the DJIA and the S&P500 added only .01 percent and .05 percent. Though the markets position remained in place, the pattern of a loss for the NASDAQ with the other two averages moving up for two days in a row, provides some insights.
On the following day in the 36 other identical closes since 2000, prices advanced 21 times while falling on the other 15 days. But with more of these closes occurring while prices were trending down, the longer term outlook shows little sign of higher prices in the near future.
DJIA .01 percent
NASDAQ -.29 percent
S&P500 .05 percent