The market moved higher after yesterday’s losses, continuing the almost daily direction changes. The DJIA, the NASDAQ and the S&P500 have now accumulated four changes in the last five days. The combined pattern of today and yesterday -the DJIA and the S&P500 up after declining the day before, the NASDAQ up following two declines in a row- has happened just 10 previous times in this century.
The diagram showing their dispersion reveals these dispersed equally over the past two expansions and declines. Yet during the bull markets, prices moved higher on four of the following five days, whereas prices in the bear markets have the exact opposite signs, with four declines and only one increase.
Note that yesterday’s projection for today was incorrect; prices moved higher despite the record showing that declines outnumbered gains two to one following yesterday’s pattern.
DJIA .35 percent
NASDAQ .91 percent
S&P500 .57 percent