May 9, 2012 DJIA Down Sixth Day
Losses continued as the DJIA fell for the sixth straight session while the NASDAQ and the S&P500 dropped for the second straight day. Only one other close in 2002- has this same pattern. Then, the following day saw prices risinf for these three averages.
NASDAQ’s prices suffered the most since the market’s decline started in mid-March. Our diagram plots the daily proportion of their October 2007 highs for DJIA, NASDAQ and the S&P500. The NASDAQ’s loss is 7.8 percentage points, a total larger than the combined losses of the S&P500 -4.1 percent- and the DJIA -3.0 percent.
Yet the NASDAQ still stands 4.4 percent above its October 2007 high, whereas the DJIA remains at 91 percent of that top. Worse yet is the plight of the S&P500 13.5 percentage points below that October 2007 high.
Looking at the past, in 2002, prices increased on the following day.
DJIA -.75 percent
NASDAQ -.39 percent
S&P500 -.67 percent
