September 19, 2012 A Mixed Day
While the DJIA closed higher for the third straight day, the NASDAQ and the S&P500 declined after yesterday’s gains. There have been only 13 other closes with this pattern in this century. The diagram locates these days. It reveals most of these -5- occurred during the 2000/2003 decline, with seven others posted since the 2009 bottom.
Moreover, on the following day, both the NASDAQ and the S&P500 moved higher on all seven next days in the market’s current rising prices trend. Further, during this period the DJIA increased only four times and fell on three days. Similarly, the DJIA closed higher on all five closes during the 2000/2003 bear market; both the NASDAQ and the S&P500 had a mix of gains and losses in the same time frame.
In the last 13 trading days, since the beginning of September, the DJIA has moved from 92.0 percent of its last, 2007 top, to 96.0 percent. That’s a 4.3 percent advance. The S&P500 picked up 3.5 percent, moving from 89.8 percent to 93.3 percent of its 2007 peak. Nevertheless, the NASDAQ remains ahead of these two averages, now at 113.3 percent of the 2007 high, adding 3.6 percent since the start of this month.
DJIA .14 percent
NASDAQ -.21 percent
S&P500 -.05 percent
