September 5, 2012 Another Rare Combination
The S&P500 fell for the second day in a row, while the NASDAQ dropped after yesterday’s advance, and the DJIA moved higher after declining yesterday. This pattern has been seen just five other times in this century.
The diagram locates these closes, with the green dots indicating an advance on the following day, while the red open circle shows losses.
Note that all but two of these closes occurred at the top of the 2000 cycle, while another happened as prices continued their decline before hitting bottom in March 2003.
On the following day, in the past, prices fell three times and declined twice. However, the few observations preclude a meaningful projection for tomorrow.
DJIA .07 percent
NASDAQ -.20 percent
S&P500 -.12 percent
