August 15, 2012 Just 22 Previous Closes
The DJIA lost just -.06 percent while the NASDAQ and the S&P500 moved a bit higher. This combination is another incident of the growing number of days closing with patterns rarely seen before. Today’s has just 26 precedents, with 22 coming in this century.
Further, this pattern has a unique distribution: none occurred in the seven years between 2002 and 2009. Indeed 17 of these 22 happened since the beginning of this recovery on March 2009.
So far our analysis has not succeeded in linking this, and other similarly rare patterns with future price changes. Since this linkage is the primary motivation of our efforts, we are disappointed but not discouraged.
As for prices tomorrow, in the past 13 of the following days posted gains.
DJIA -.06 percent
NASDAQ .46 percent
S&P500 .11 percent
