August 16, 2012 Best Day Since Friday
Prices moved higher, scoring the best advance since last Friday. Both the NASDAQ and the S&P500 posted their second straight gain, while the DJIA moved into the positives after yesterday’s decline. It is the 29th repeat of this pattern in this century, and the 57th 1950.
Yet this combination occurred 16 times since March 2009, but on just 13 other days in the 12 years since January 2000. Accordingly, we add today’s pattern to the list of ‘unusual combinations’ that gave dominated recent price and frequency activity.
Looking at tomorrow, note that gains outnumbered losses 16:12 in the past, and that most of these gains came during this current upturn since the 2009 bottom.
Note that today’s gains verified yesterday’s projection of price increases today.
DJIA .65 percent
NASDAQ 1.04 percent
S&P500 .71 percent
