Every day the market returns to the same old, same old price variation. All three indices moved up with the DJIAs uptick of .37 percent leading the way. The NASDAQ followed with a .33 percent move and the DJIA came in last, posting .30 percent.
Only one close so far this month fell outside these narrow, plus or minus, boundaries. While last year had 18 such days, this frequency fell to 7 in 2009 and one in 2008. That changes of this magnitude signal higher prices ahead would be a useful explanation but no evidence substantiates that relationship.
Yesterdays projection of higher prices for today, based on the history of patterns, came in accurate. The news for tomorrow is not as good, with the past frequency count of 18 negative days and 13 positive days failing to yield optimism for expectations of higher prices on Wednesday.
DJIA .30 percent
NASDAQ .33 percent
S&P500 .37 percent