USMarketView

August 13, 2008

Losses continued for a second day in a row. They were limited for the NASDAQ and the S&P500, but reached almost a full percent down for the DJIA.

Continuing the price movement analysis by tabulating the continuity and frequency of daily changes, today is classified as a -2/+2/-1 chain. It is the second down day in a row; these followed two consecutive up days; which trailed a down day. This describes the happenings of the past week – from Thursday a week ago to today.

A total of 14 of these sequences occurred since 1950, eight of which came after January 2000. It is also the first such string for 2008.

Before this year, all these strings came during the last bull market of 2003-2007. While today’s result comes after many days of falling prices, it is too early to tell if this last event will be associated with a trend of falling or rising prices.

DJIA -.94 percent

NASDAQ… -.08 percent

S&P500 -.30 percent

This entry was posted on Wednesday, August 13th, 2008 at 12 042008000000Wed, 13 Aug 2008 16:30:49 +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.