Stock Price Movements Since Their Late-April Peak

September 1, 2010

The Dow Jones Industrial average is 8.5% below its closing on April 26 in spite of the very robust beginning to September.  That loss is greater than the net decline of 6.9% in the British Ftse and the 4.0% drop of the German Dax from their highest closing levels in late April.  But the Dow’s loss is substantially less than the 20.4% bear market plunge of the Japanese Nikkei.  The period of time observed was marginally more than a third of a year.

The worst day of the week for the Dow has been Friday.  On those days, the DJIA fell by 0.6% on average.  The second to weakest day has been Tuesday, when the DOW posted an average daily decline of 0.3%.  Monday’s were the best day with a mean advance of 0.2%.  Wednesday’s were a neutral day (no change on balance overall), with nine instances of decline, seven of rise, and two with no change.  On Thursdays, the DOW on averaged edged 0.1% lower.

In the first trading sessions of the month such as today, the market performed better than on any of the above five day-of-the-week groups.  Counting today’s action through the first two and a half hours on the ticker, the Dow on average appreciated by 0.8% on the first day of each month.

Copyright Larry Greenberg 2010.  All rights reserved.  No secondary distribution without express permission.



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