February 3, 2009
The DJIA and the S&P500 scoring their first gain in three days, joined the NASDAQ as it posted its second successive increase. This pattern of changes at the close–the DJIA and the S&P500 showing one gain after a losing day, while the NASDAQ having two increases in as many days–occurred just 28 times in the 2,283 trading days since January 2000.
While 13 of these runs were in the five positive years, the other 15 took place during the four losing years in this century. The advances on the second day, ranged from a low of .03 percent to a high of 11.8 percent. That largest gain was just months ago, on October 13, 2008.
On the following day, the S&P500 moved ahead 13 times, declining on the other 15. The DJIA and the NASDAQ, however, did not do as well advancing only 11 times and falling on 17 days. Moreover, the drops on that next day were as sharp as minus three percent for the DJIA and the S&P500, while the NASDAQ fell as much as minus five percent.
The numbers on the plus side were not as high, ranging from 1.5 percent for the S&P500 to 4.19 percent for the NASDAQ.
DJIA 1.78 percent
NASDAQ 1.46 percent
S&P500 1.58 percent