The DJIA, NASDAQ, and S&P500 lost ground for the third session in a row. It is the fourth time this year for this pattern, and the 60th repeat since the start of 2000.
Our diagram shows more of these three straight losses happening when prices are moving higher. It reveals also that gains on the following day are more frequent during these up turns. However, earlier this year, the NASDAQ and the DJIA experienced just one increase while suffering two losses on the following day. The S&P500 though, advanced twice.
Another confirmation that the trend of prices remains up, is the small size of these last changes. During the 2007/2009, prices dropped more than minus two percent when the market lost ground three days in a row. In contrast, these declines since the 2009 low average just about a half a percent; the story is similar for the three losses in a row experienced during the 2003/2007 bull market.
DJIA -.19 percent
NASDAQ -.74 percent
S&P500 -.48 percent
