Tuesdays loss was the fourth decline in the last five trading days for both the S&P500 and the DJIA.
Their recent closing pattern is two losses, following a positive close, after losses in the two previous sessions. There have been 27 of these for the S&P500 since 2000, with a median decline of -.76 percent, Tuesdays decline of -.66 percent is not as steep.
The DJIA had 30 such -2/+1/-2 days, with its median loss of -.52 percent just about equal to todays -.51 decrease.
The NASDAQ pattern slightly different, declining in only three of the last five days, results in a -2/+1/-1 history. There have been 53 of these since 2000 substantially more than the other two indices; but todays loss of -.58 percent is significantly less than the median -1.04 percent.
The table below summarizes these changes and shows the price changes for the following day in identical patterns or circumstances in the past.
Posted at 2:10 PM, Wednesday, October 17, 2007.
This entry was posted on Wednesday, October 17th, 2007 at 12 082007000000Wed, 17 Oct 2007 20:17:33 +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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