Prices remained almost the same as the day before, though the NASDAQ fell a bit as the DJIA and the S&P500 edged higher. The resulting pattern of three straight losses for the NASDAQ with a one day increase for the other two market averages, yields a rare pattern. It occurred just 19 previous times since 1996 – with almost an equal number of hits during bull markets as well as bear markets.
Today’s diagram reveals no consistent differences between these two market phases, and shows more declines on the following day than increases.
DJIA .18 percent
NASDAQ -.46 percent
S&P500 .06 percent
