Increases near one percent closed the second consecutive advance, as the yield on the Ten Year Treasury Bond waned a bit. Some analysts credited the day’s results to the economic news of a slight markdown; this led to expectations that the Fed might postpone tightening the money reigns.
Our diagram shows today’s pattern of two gains, following a loss, that came after an increase, that is +2/-1/+1, is almost evenly distributed over price expansions and contractions.
Gains and losses on the following day fail to reveal any consistency over bull and bear markets. While increases outnumber declines in the current and the 1996/2000 phases, losses occurred three times as often as advances during 2003/2007.
DJIA 1.02 percent
NASDAQ .85 percent
S&P500 .96 percent
