The indices made a strong recovery from todays lows, but failed to close on the upside.
The NASDAQ was off -.54 percent, the S&P500 shrunk -.50 percent and the DJIA was off - .38 percent.
The chart below shows how the three indices whipsawed in the last seven trading days.
Lengthy chains of daily fluctuations like these are rare. There are only four repeats of this pattern for the S&P500 since January 2000, with a median loss of -.27 percent. While the DJIA and the NASDAQ indices had just two repeats, with median decreases of -.28 percent and -.17 percent, respectively.
Posted on November 5