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The DJIA added .26 points today – a change so small compared to its close of 16,072, that more decimal points than comfortable are required to size it. The S&P500’s change was not much larger, but it rounds to .01 percent. Yet the NASDAQ added .58 percent on its fourth up day in a row.
The resulting pattern of four gains for the NASDAQ combined with one day gains for the other two indices, has occurred just 21 other times. Today’s diagram plotting these days shows that these days favor turning points. Look at the one happening the day after the market peaked in 2007.
The outlook for tomorrow, based on this history, is negative; there were only six gains, compared to 15 losses on the day following this pattern.
DJIA .00 percent
NASDAQ .58 percent
S&P500 .01 percent
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