The NASDAQ extended its losing streak to three while the DJIA and the S&P500 fell for the second day in a row. Its the 20th repeat, since the beginning of 2000, of this pattern and leaves a mixed outlook for tomorrow. In the past, the NASDAQ moved higher 11 times on the following day, declining on 8 days. The DJIA has the opposite score, 8 increases and 11 declines, whereas 9 increases and 10 losses is the S&P500 result.
A more important spotlight though, is on the size of todays losses. The NASDAQs -.18 percent has only 190 other, smaller losses in this century. Similarly, the DJIA and the S&P500 declines rank as the 201st and 271st place.
The diagram locates these closes for the S&P500, revealing that all but one happened during the 2003/2007 bull market. And that day, the last occurrence, was during the current expansion.
Yet theres a caution necessary: one of these days was at the very top of that 2007 peak, and four others cluster immediately before that turning point.
DJIA -.11 percent
NASDAQ -.18 percent
S&P500 -.17 percent
