Another day of minor losses ended a weak August – the market ended the month with prices lower than on July 31.
Today’s losses result in a pattern of a single decline after the advances of the previous two sessions. This combination occurred just 31 other times over the last five price cycles.
Our diagram shows these days happening somewhat more often during expansions than when prices are trending down. Further, the following days show a distinct difference between bull and bear markets: prices increased more often than they declined when the market was heading higher.
DJIA -.21 percent
NASDAQ -.84 percent
S&P500 -.32 percent
