While today’s NASDAQ gain of .58% beat the DJIAs .14% increase, the S&P500 fell. Although this decline was a mere -.03%, not very different from a no change day, the real news is that this index ran counter to the other two.
In the 14,525 trading days since 1950, the S&P change diverged from the direction of the DJIA close only 1,530 times. Of these, 703 were like todays deviation: a plus DJIA day matching a minus S&P day. In the other 827 differences, the plus was in the S&Ps favor.
Today is the 17th time this year that the DJIA gain matched the S&P loss, much greater than the 80 times in the six previous years since 2000.
Of course the S&P loss at -.03% is quite small, and not very different from a zero change close, but nevertheless the cross result, loss vs. gain, did occur.
This entry was posted on Wednesday, September 26th, 2007 at 12 122007000000Wed, 26 Sep 2007 00:08:21 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed.
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