Imprints of log-periodic self-similarity in the stock market

Detailed analysis of the log-periodic structures as precursors of the financial crashes is presented. The study is mainly based on the German Stock Index (DAX) variation over the 1998 period which includes both, a spectacular boom and a large decline, in magnitude only comparable to the so-called Black Monday of October 1987. The present example provides further arguments in favour of a discrete scale-invariance governing the dynamics of the stock market. A related clear log-periodic structure prior to the crash and consistent with its onset extends over the period of a few months. Furthermore, on smaller time-scales the data seems to indicate the appearance of analogous log-periodic oscillations as precursors of the smaller, intermediate decreases. Even the frequencies of such oscillations are similar on various levels of resolution. The related value $\lambda \approx 2$ of preferred scaling ratios is amazingly consistent with those found for a wide variety of other complex systems. Similar analysis of the major American indices between September 1998 and February 1999 also provides some evidence supporting this concept but, at the same time, illustrates a possible splitting of the dynamics that a large market may experience.Comment: 13 pages, LaTeX-REVTeX, 4 PS figures. Significantly extended version to appear in The European Physical Journal

Decay of Nuclear Giant Resonances: Quantum Self-similar Fragmentation

Scaling analysis of nuclear giant resonance transition probabilities with increasing level of complexity in the background states is performed. It is found that the background characteristics, typical for chaotic systems lead to nontrivial multifractal scaling properties.Comment: 4 pages, LaTeX format, pc96.sty + 2 eps figures, accepted as: talk at the 8th Joint EPS-APS International Conference on Physics Computing (PC'96, 17-21. Sept. 1996), to appear in the Proceeding

Statistical aspects of nuclear coupling to continuum

Various global characteristics of the coupling between the bound and scattering states are explicitly studied based on realistic Shell Model Embedded in the Continuum. In particular, such characteristics are related to those of the scattering ensemble. It is found that in the region of higher density of states the coupling to continuum is largely consistent with the statistical model. However, assumption of channel equivalence in the statistical model is, in general, violated

Pathological Behavior in the Spectral Statistics of the Asymmetric Rotor Model

The aim of this work is to study the spectral statistics of the asymmetric rotor model (triaxial rigid rotator). The asymmetric top is classically integrable and, according to the Berry-Tabor theory, its spectral statistics should be Poissonian. Surprisingly, our numerical results show that the nearest neighbor spacing distribution $P(s)$ and the spectral rigidity $\Delta_3(L)$ do not follow Poisson statistics. In particular, $P(s)$ shows a sharp peak at $s=1$ while $\Delta_3(L)$ for small values of $L$ follows the Poissonian predictions and asymptotically it shows large fluctuations around its mean value. Finally, we analyze the information entropy, which shows a dissolution of quantum numbers by breaking the axial symmetry of the rigid rotator.Comment: 11 pages, 7 figures, to be published in Phys. Rev.

Invariant Manifolds and Collective Coordinates

We introduce suitable coordinate systems for interacting many-body systems with invariant manifolds. These are Cartesian in coordinate and momentum space and chosen such that several components are identically zero for motion on the invariant manifold. In this sense these coordinates are collective. We make a connection to Zickendraht's collective coordinates and present certain configurations of few-body systems where rotations and vibrations decouple from single-particle motion. These configurations do not depend on details of the interaction.Comment: 15 pages, 2 EPS-figures, uses psfig.st