The closing pricing as of Friday, August 8th…
Giving an index price of: $36.07. And as a result the index is up $2.25 this week.
So why the rebound this week? Apple has been called as being to handle a downturn in the economy very well. Johnson and Johnson produced a really positive report on the last quarter. The Limited Company also had a reasonably good report on the quarter giving them a boost as well. Home Depot shot up as well this week on good news as well. So that’s a quarter of the index with good news. Gains on that many stocks will always cause a jump in the value of an index…
There is a however of course.
A significant jump one week normally is followed by a loss of at least half of the jump about 60% of the time.
Anyone up for gambling?