The S&P500 closed up for the first time in five days, but the gain amounted to just .02 percent. The DJIA fell again, for down day number 4, closing -.14 percent down, while the NASDAQ declined for the fifth successive day, off a mere -.08 percent.
The resulting pattern plus 1 for the S&P500, minus 4 for the DJIA and minus 5 for the NASDAQ- happened just once before, almost 20 years ago, on March 9, 1992. Obviously, that is too far away, and with too few data points to warrant any projections.
It is troublesome, furthermore, to see so many atypical patterns closes, without an explanation at hand.
Yet a confidence factor based on recent history provides a stabilizing peg: the current recovery from the 2009 low parallels the last one, from 2003 to 2009. Certainly, it is not just keeping pace but the recent price trajectory is somewhat earlier and larger.
DJIA -.14 percent
NASDAQ -.08 percent
S&P500 .02 percent
