The DJIA fell for the second straight day; the S&P500 and the NASDAQ also declined –with the NASDAQ ending its eight-day winning streak. This combination occurs somewhat more often when prices are heading down. The diagram reveals that the frequency in a bear market is greater than their occurrence in the following bull market.
Prices on the following day decline more often than they rise, during declines, while the opposite happens when prices move up. Next day increases outweigh declines three to one in the 2003/2007 expansion and in this recovery that dates back to March 2009.
DJIA -.56 percent
NASDAQ -.82 percent
S&P500 -.65 percent
