The closing pattern of the first session after the two day closure caused by the devastating Hurricane Sandy, continued the recent chain of unusual combinations. Todays pattern of +1/-1-1 happened just once before in this century: on July 15, 2010. Indeed, there are only two other days, since 1950, on which the S&P500 moved higher after a decline while the DJIA and the NASDAQ fell.
Our diagram shows prices rebounding sharply, but first they had to weather severe decline.
This propensity mirrors similar price changes in the 1972 and 1978 incidents.
These facts are information and history only; three repeats are not sufficient basise for a projection.
DJIA -.08 percent
NASDAQ -.36 percent
S&P500 .02 percent
