September 8, 2011 A Decline in Roller Coaster Market
Prices fell about one percent as the up-then-down configuration continues. The record shows just twelve previous days with a -1/+1/-3 pattern in this century. Further, on the following day, prices moved higher twice as often as they declined. Accordingly, chances favor higher prices for tomorrows session.
Returning to yesterdays market sprint when the NASDAQ jumped 3.04 percent, the S&P500 gained 2.86 percent and the DJIA rose 2.47 percent we noted that changes as large and larger cluster in down markets. None have occurred when prices are on their way up.
Today we present the diagram, with these days identified by empty circles.
DJIA -1.04 percent
NASDAQ -.78 percent
S&P500 -1.06 percent
