April 22, 2008
All three indices decreased today, with the NASDSAQ the greatest loser, off by -1.29 percent. The S&P500 lost -.88 percent while the DJIA declined -.82 percent. This was their second down day, whereas it was the first NASDAQ reversal, after yesterdays meager .21 percent increase.
Historically, two successive declines on the heels of four straight gains, has happened only twelve times for the S&P500, since January 1, 2000. The DJIA has almost twice as many, with a record of twenty-three of these occurances.
Looking at the past, again, with this record, the S&P500, went up just about twice as often as turning in a third negative day in a row. This same ratio applies also to the DJIA.
The outlook for the NASDAQ, based on this history, is not so optimistic, with the ratio of the next day being positive, rather than negative, is only in the neighborhood of 1.1.
DJIA -.82 percent
NASDAQ -1.29 percent
S&P500 -.88 percent
Note: For the purpose of having the name defining the mission more accurately,, this blog has switched its name to USMarketView.com.
This entry was posted on Tuesday, April 22nd, 2008 at 12 032008000000Tue, 22 Apr 2008 15:49:23 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed.
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