USMarketView

August 8, 2008

A strong surge pushed the indices higher today, recovering more than Thursday’s losses. And together with Wednesday’s advance of near three percent, brought the market to a higher level than a week ago.

The trading pattern of the last three days continues to reflect and parallel the earlier period, between 2000 and 2003, in which prices suffered a major setback.

As for the week, it was the strongest performance since April 18, 2008, as the NASDAQ gained 4.46 percent from last Friday’s close. The DJIA moved up by 3.60 percent while the S&P500 increased 2.86 percent.

Prices of all three indices have recovered from their lowest week of the year on Friday July 11. Moreover, except for the DJIA, they have moved higher than their previous bottom on March 13, some 21 Fridays ago.

DJIA 2.65 percent

NASDAQ… 2.48 percent

S&P500 2.39 percent

This entry was posted on Saturday, August 9th, 2008 at 12 092008000000Sat, 09 Aug 2008 09:31:20 +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.