USMarketView

March 7, 2008

The NASDQ continues to suffer Friday to Friday losses, and in posting its third straight losing week today, it has accumulated eight negative weeks over the ten weeks of this year. Its current drop of 2.60 percent is the fourth deepest weekly decline in 2008.

Indeed, the DJIA and the NASDAQ also turned in their fourth sharpest weekly close this year, although they have advanced in six of the last ten weeks.

As noted in an earlier, recent discussion, the rate and frequency pattern of recent daily changes bear more similarity to the falling market between April 2000 and October 2002, than they do to the bull market that ended last fall. The same relationship also is apparent in the pattern of weekly changes. This can be seen in the figure below for the NASDAQ, and holds also for the DJIA and S&P500. (These two diagrams are available for the asking.)

These factors should not escape our attention when contemplating future index changes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DJIA - 1.22 percent
NASDAQ - .36 percent
S&P500 - .85 percent

This entry was posted on Friday, March 7th, 2008 at 12 062008000000Fri, 07 Mar 2008 18:01:21 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.