Abstract
This article shows turbulent behavior in a series of financial indexes assuming that they follow a cascade process of the same type as do turbulent fluids. With such a model, the energy flux between the eddies that emerge in the fluid is analogous to the financial information flux over the course of time. The results obtained confirm the variability of variation of the indexes for the considered time scale (the turbulent intermittency typical for fluids), and they also confirm that when we descend along the cascade, that is to say, when we consider smaller time intervals, the rate at which the hypothetical eddies of information dissipate becomes greater than the rate at which the information is transmitted. This fact can explain the cyclical nature of crises: ultimately, financial events have a memory of the past. Besides, the NASDAQ singular behavior regarding the number of jumps, the degree of intermittency of the turbulence and the life time of the hypothetical eddies has been analysed.
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