All three indices registered substantial declines today. The NASDAQ dropped -.91 percent, the S&P500 was off -.84 percent, and the DJIA declined -.77 percent.
Negative closes occurred in about half the trading days since January 2000, and of those, the DJIA and the S&P500 losses ranged between -.5 and -1.0 percent more than two thirds of the time.
The trading pattern of these two indices is todays negative close, following Fridays uptick, and two declines in a row, on Thursday and Wednesday of last week. This minus 1/ plus 1 / minus two pattern of closes happened some 60 times, but with smaller losses since 2000.
The table below summarizes these changes and presents the price changes for these indices in identical circumstances in the past.
This entry was posted on Monday, October 15th, 2007 at 12 112007000000Mon, 15 Oct 2007 23:47:37 +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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