USMarketView

July 3, 2008

The NASDAQ declined -.27 percent, finishing in the red for the third time in this foreshortened week of four trading sessions. The DJIA gained .65 percent whereas the S&P500 rose .11 percent on Thursday.

On the day before Independence Day, in the previous eight years, since 2000, the NASDAQ closed higher five times and declined three times. In those three negative years, it declined twice on the next trading day.

The DJA and the S&P500 have the same record on the day before, but the DJIA had three declines on the following day, while the S&P500 fell twice.

Both the NASDAQ and the S&P500 have now ended the week lower than the week before for five straight times. It was the second time this year for the NASDAQ, but the 13^th such occasion since January 2000.

It was a first the S&P500, but the 11^th time in this century. The time graph below, shows that such strings of five weekly losses in a row have been clustered when the index experiences a long and substantial decline.

DJIA .65 percent

NASDAQ -.27 percent

S&P500 -.11 percent

Posted July 5, 2008

This entry was posted on Saturday, July 5th, 2008 at 12 112008000000Sat, 05 Jul 2008 11:11:50 +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.