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With today’s .22 percent gain, the NASDAQ again set another new high, and while the DJIA fell .29 percent, that index nevertheless remained above its July high. The S&P500, however, fell further behind, and, off by just .03 percent, has not, for the second straight day, joined the other two indices in regaining the previous high.

When the market reached the then record high on September 1, 2000, the NASDAQ and S&P retreated for the next two days as the DJIA continued setting further records for another two days, before suffering three straight declines.

So this week’s pattern of two indices achieving new highs one day, and the NASDAQ continuing higher as the DJIA declined the next day, resembles the action the last time the market achieved an all time high.

This entry was posted on Tuesday, October 2nd, 2007 at 12 112007000000Tue, 02 Oct 2007 23:32:29 +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.