August 8, 2012 A Mixed, Small Change Day
While the NASDAQ declined, the DJIA and the S&P500 advanced. Yet the changes were not very different from zero. The DJIA’s change was just plus .05 percent, a number so small that only 106 other gains in the past 13 years were smaller. Similarly, the S&P500′s plus .06 percent has just 112 smaller increases since January 2000.
Finally, today’s pattern of four gains -the DJIA and the S&P500, with the NASDAQ declining after three previous advances- is unusual, with just seven other closes in this century.
Accordingly, these rare occurrences do not provide a basis for projections of future price changes.
DJIA .05 percent
NASDAQ -.15 percent
S&P500 .06 percent