USMarketView

September 24, 2008

The day ended about where it closed yesterday. While the DJIA and the S&P500 finally turbed lower, the losses were an insubstantial -.27 percent and -.20 percent. Though the NASDAQ moved ahead, it was by only .11 percent.

Even though they occur often enough –about 10 percent of all closes this year, and near 20 percent since January 2000- these small changes do not yield much understanding of past motivation nor do they provide clues of future movements

This year on the following day, for example, the NASDAQ turned positive eleven times and declined seven times. However, the S&P500 had near the opposite result, with seven increases and fourteen decreases.

Moreover, today’s results do not provide much parallel with those preceding the 1987 price drop. Then, on the day after the +2/-2 series (two positive closes after two straight declines), the DJIA gained .02 percent, while the S&P500 lost -.01 percent, whereas the NASDAQ fell -2.26 percent.

DJIA -.27 percent

NASDAQ… .11 percent

S&P500 -.20 percent

This entry was posted on Wednesday, September 24th, 2008 at 12 042008000000Wed, 24 Sep 2008 16:22:27 +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.