Losses just about offsetting yesterday’s gains happened again, continuing the market’s lack of direction for the last seven trading days. This pause is happening despite the DJIA’s new record high earlier this week.
This one day up following one day down pattern, is the third this month; it is the 13th this year. There were just seven in 2012 and nine in 2011.
Yet, with the first two years of this recovery having more than 15 of these seeming lack of direction pauses, such holding patterns could indicate substantial appreciation.
DJIA -.69 percent
NASDAQ -.61 percent
S&P500 -.70 percent
