August 20, 2010 — Week of Churning, Prices Unchanged

Declines offset by gains left the indices almost unchanged from last Friday’s close. Yet the last NASDAQ trade of the week stayed higher –by 6 points out of its total value of 2180. The other two indices fell, but their changes were negligible. Thus, with today’s NASDAQ gain of  .04 percent, the minus .56 percent change for the DJIA, and the -.37percent loss of the S&P500, the comparison pattern becomes  +1 for the NASDAQ and  -2 for the latter indices.Contrary to what is called common sense, only 86 other sessions experienced this combination, with 19 of these happening since January 2000. On the following day, advances outnumbered declines 11 to 8 for the DJIA and the S&P500; the NASDAQ record is 12 up and 7 down. 

DJIA                  - .56  percentNASDAQ             .04  percentS&P500             - .37  percent 

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