The DJIA continued down for the second successive day, closing minus .66 percent, and the other two indices, posted losses for the first time since Friday, three market days ago. The NASDAQ was off minus .23 percent whereas the S&P500 dropped -.59 percent.Considering the relative size of these changes, note that todays NASDAQ change was its 3309th worst performance. That is, there have been 3308 deeper daily losses since the start of the NASDAQ. The rank of the S&P500 decline is 2823 and the DJIA rank is 2659. These numbers place daily changes in perspective, relative to the prior performance of each separate index. It allows more index specific allocation and judgment of variations compared to contrasting the performance of say the DJIA to the S&P500. After all, the purpose of these indicators is to measure the accomplishments of differential asset allocations.Turning to the pattern of changes, the recent sequence of both the NASDAQ and the S&P500 is -1/+3. The DJIA stands at -2/+2 or two losses following two daily upticks. History reveals only 19 such closes, with 10 occurring since January 2000. The data for the following day are strongly indicative of increases for tomorrow in the past gains outnumbered declines by better than two to one.
DJIA - .66 percentNASDAQ - .23 percent S&P500 -.59 percent