Declining by -.66 percent and breaking a string of five consecutive gains, the NASDAQ joined the other two averages which experienced their second successive loss today. This yields a pattern seen 179 times before, with 28 happening in this century.
Considering only the latest 28 sessions, the NASDAQ posted 16 further losses and 12 increases. The DJIA and the S&P500 record, however, shows 20 increases and only 8 declines.
Differentiating this history by bull and bear periods, shows the two down periods -2000/2003 and 2007/2009- with a smaller share of this pattern than the rising prices segments. But these differences are not sufficiently significant to conclude that the market’s current rise will continue.
DJIA -.53 percent
NASDAQ -.66 percent
S&P500 -.81 percent