September 26, 2011 Large Gains Open Week
Prices enjoyed their second straight advance. Both the DJIA and the S&P500 rose more than two percent while the NASDAQ was up 1.35 percent. Usually more than 53 percent of the time- the NASDAQ outperforms the other two indices, but today was different. However, this may be just an inadvertent happening; we have not found any relationships that explain this relationship.
The pattern of back-to-back advances is quite common, with 213 since the beginning of 2000. The outlook for the following day does not look promising for the DJIA. In the past, it moved higher only 89 times while the index fell on 124 occasions. Here again, so far no correlation has been found to explain these differences.
The S&P500 next day closes were almost evenly divided, yet losses outnumbered increases by 109/104.
Only the NASDAQ has a record of more increases -115- than decreases -98- for the following day.
DJIA 2.53 percent
NASDAQ 1.35 percent
S&P500 2.33 percent