With the NASDAQ gaining 1.94 percent, the S&P500 up 1.38 percent and the DJIA increasing .99 percent, the week closed higher after two successive losses.
The past week started with two positive days, then declines on Wednesday and Thursday, before Fridays gains. Given this five day pattern of closes, since January 2000, the next day turned negative on 51 occasions for the NASDAQ and S&P500, and 67 times for the DJIA. The median changes on the next day were
DJIA Median -.57 percent,
NASDAQ Median -1.18 percent,
S&P 500 -1.12 percent.
As for the positive side, there were 64 gains for both the NASDAQ and S&P500, while the DJIA increased on 67 trading days. The median gains for the next day were
DJIA Median + .59 percent,
NASDAQ Median +1.04 percent,
S&P 500 Median +1.05 percent.
Posted Monday October 29, 2007, 10:15 AM.
This entry was posted on Monday, October 29th, 2007 at 12 072007000000Mon, 29 Oct 2007 19:31:52 +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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