Sixth Day of NDX Outperformance on SPX Down Day
By
Rennie on Friday, October 23rd, 2009 at 3:13 pm
NDX is currently off 0.4% at 1756. S&P is down 1.2% at 1079, marking the sixth consecutive instance of Nasdaq outperformance on a down day for the S&P. If the NDX holds above 1754.33 while the S&P holds below 1082, a three-day buy signal will be triggered. Listed below are each of the last thirty instances in which the NDX settled down less than 0.5% (or managed a gain) on a day when the S&P fell 1%+. Note that in 25 out of 30 cases, or 83% of the time, the S&P closed at a higher level three sessions later, significantly greater than the 55% at-any-time odds for a higher S&P three sessions later…
S&P500 Drops 1%+, Nasdaq Down Less than 0.5%
06/03/09… S&P500 +0.9% three days later
05/15/09… S&P500 +2.3% three days later
05/11/09… S&P500 -1.8% three days later
04/27/09… S&P500 +1.8% three days later
03/19/09… S&P500 +2.8% three days later
02/20/09… S&P500 -0.7% three days later
10/29/08… S&P500 +3.9% three days later
10/10/08… S&P500 +1.0% three days later
10/08/08… S&P500 +1.9% three days later
08/12/08… S&P500 +0.7% three days later
07/31/08… S&P500 +1.4% three days later
07/15/08… S&P500 +3.8% three days later
05/23/08… S&P500 +1.6% three days later
06/13/06… S&P500 +2.3% three days later
05/12/05… S&P500 +1.2% three days later
03/09/05… S&P500 -0.0% three days later
04/16/03… S&P500 +3.6% three days later
01/22/03… S&P500 -3.5% three days later
10/09/02… S&P500 +8.3% three days later
09/24/02… S&P500 +1.0% three days later
04/29/02… S&P500 +1.8% three days later
03/06/00… S&P500 +0.8% three days later
02/16/00… S&P500 -2.6% three days later
05/27/99… S&P500 +1.1% three days later
01/14/99… S&P500 +3.7% three days later
07/09/97… S&P500 +1.2% three days later
03/13/97… S&P500 +0.0% three days later
04/10/96… S&P500 +1.4% three days later
02/20/96… S&P500 +2.9% three days later
01/10/96… S&P500 +0.2% three days later
I’d also note the NDX is in the process of posting a higher high and higher low despite 3:1 negative breadth, a generally positive sign for the Nasdaq over the next couple of sessions (see this recent post).
Sixth Day of NDX Outperformance on SPX Down Day
By Rennie on Friday, October 23rd, 2009 at 3:13 pmNDX is currently off 0.4% at 1756. S&P is down 1.2% at 1079, marking the sixth consecutive instance of Nasdaq outperformance on a down day for the S&P. If the NDX holds above 1754.33 while the S&P holds below 1082, a three-day buy signal will be triggered. Listed below are each of the last thirty instances in which the NDX settled down less than 0.5% (or managed a gain) on a day when the S&P fell 1%+. Note that in 25 out of 30 cases, or 83% of the time, the S&P closed at a higher level three sessions later, significantly greater than the 55% at-any-time odds for a higher S&P three sessions later…
S&P500 Drops 1%+, Nasdaq Down Less than 0.5%
06/03/09… S&P500 +0.9% three days later
05/15/09… S&P500 +2.3% three days later
05/11/09… S&P500 -1.8% three days later
04/27/09… S&P500 +1.8% three days later
03/19/09… S&P500 +2.8% three days later
02/20/09… S&P500 -0.7% three days later
10/29/08… S&P500 +3.9% three days later
10/10/08… S&P500 +1.0% three days later
10/08/08… S&P500 +1.9% three days later
08/12/08… S&P500 +0.7% three days later
07/31/08… S&P500 +1.4% three days later
07/15/08… S&P500 +3.8% three days later
05/23/08… S&P500 +1.6% three days later
06/13/06… S&P500 +2.3% three days later
05/12/05… S&P500 +1.2% three days later
03/09/05… S&P500 -0.0% three days later
04/16/03… S&P500 +3.6% three days later
01/22/03… S&P500 -3.5% three days later
10/09/02… S&P500 +8.3% three days later
09/24/02… S&P500 +1.0% three days later
04/29/02… S&P500 +1.8% three days later
03/06/00… S&P500 +0.8% three days later
02/16/00… S&P500 -2.6% three days later
05/27/99… S&P500 +1.1% three days later
01/14/99… S&P500 +3.7% three days later
07/09/97… S&P500 +1.2% three days later
03/13/97… S&P500 +0.0% three days later
04/10/96… S&P500 +1.4% three days later
02/20/96… S&P500 +2.9% three days later
01/10/96… S&P500 +0.2% three days later
I’d also note the NDX is in the process of posting a higher high and higher low despite 3:1 negative breadth, a generally positive sign for the Nasdaq over the next couple of sessions (see this recent post).