September 9, 2012 Declines After Gains
All three indices fell today, after the DJIA moved higher on three successive days and two straight gains by the NASDAQ and the S&P500. This is just the third such count in the 3,190 trading days since the start of 2000.
While the last repeat occurred as recently as this past July 31, let’s focus on the earlier one that happened in February 2007. That was only 167 trading days before the market turned down decisively on October 9, 2007.
Prices continued their decline on both of the following days. Therefore, if the future is like the past, the expectation for tomorrow is for a further loss.
Friday’s projection for today, that called for a decline, turned out correct.
DJIA -.25 percent
NASDAQ -.95 percent
S&P500 -.39 percent
