Only 16 other days closed with the same pattern as today’s combination: DJIA – down one day, NASDAQ – up one day, S&P500 – down two days in a row. Further, there have been just nine over the last three cycles – since 1996.
Yesterday’s pattern count was a little larger –55 overall with 23 since 1996- but the day before had only 10 repeats, and the pattern the day-before-that had been seen just 8 times.
We call these unusually rare counts to your attention, and continue to focus our analysis on this singularity, even though our analysis has found no relationship between these infrequent patterns and price changes.
Our diagram locating the nine days with today’s pattern; it reveals eight occurring during expansions. Only one happened when prices were heading down.
As for tomorrow, in the past gains and losses happened with equal frequency on the following day.
DJIA -.16 percent
NASDAQ .01 percent
S&P500 -.38 percent
