February 16, 2012 Further Odd, Rare Close
Todays strong performance and optimistic outlook could be contradicted by the record of this pattern: the S&P500 rising after two declines in a row, while the DJIA and the NASDAQ close higher after yesterdays decline. This is just the fifth repeat of this pattern since the beginning of 2000.
Prices fell substantially after each of these four previous incidents. That holds in the short run but the longer term outlook is brighter. Prices continued higher in the last two incidents.
DJIA .96 percent
NASDAQ 1.51 percent
S&P500 1.10 percent
