USMarketView

May 21, 2008

With the long holiday weekend approaching, the indices extended their losses of yesterday. The DJIA and the NASDAQ both dropped -1.77 percent, while the S&P500 fell -1.61 percent.

This is the second straight decline for the DJIA and the S&P500, and the fourth successive negative close for the NASDAQ.

Yesterday’s analysis focused on the recent pattern of steep changes every fourth day or so but with only minor fluctuation on the other, in between, trading days. The market today, of course, failed to follow that pattern, posting two back to back losses in the minus one percent, or more, range.

But it should be noted that in the past two days, all three indices have moved in the same, negative, direction, rather than repeating their recent divergent paths.

DJIA -1.77 percent

NASDAQ -1.77 percent

S&P500 -1.61 percent

This entry was posted on Wednesday, May 21st, 2008 at 12 082008000000Wed, 21 May 2008 20:43:13 +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.