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The Boehner Obama One-Two Stock Market Bounce

Stock-Markets / Stock Markets 2012 Nov 29, 2012 - 06:09 AM GMT

By: PhilStockWorld

Stock-Markets

Courtesy of Doug Short : The S&P 500 opened lower and fell to its intraday low, off 0.97%, shortly after 10 AM. That was when Speaker of the House John Boehner triggered a rally with another of his vague expressions of optimism about bulldozing the Fiscal Cliff. In separate remarks President Obama spoke of a deal within the next four weeks. The market responded with a pair of bounces. The index closed the day near its intraday high with a gain of 0.79%.


Here is a five-minute look at today’s action.

Here is a two-hour chart with highlights for the post-election slide, the first Boehner Bounce on November 16th and perhaps the beginnings of another optimism-driven bounce.

The S&P 500 is now up 12.11% for 2012 but 3.81% below the interim closing high of September 14th.

From a longer-term perspective, the index is 108.4% above the March 2009 closing low and 9.9% below the nominal all-time high of October 2007.

For a better sense of how these declines figure into a larger historical context, here’s a long-term view of secular bull and bear markets in the S&P Composite since 1871.

- Phil

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www.philstockworld.com

Philip R. Davis is a founder of Phil's Stock World (www.philstockworld.com), a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders. Mr. Davis is a serial entrepreneur, having founded software company Accu-Title, a real estate title insurance software solution, and is also the President of the Delphi Consulting Corp., an M&A consulting firm that helps large and small companies obtain funding and close deals. He was also the founder of Accu-Search, a property data corporation that was sold to DataTrace in 2004 and Personality Plus, a precursor to eHarmony.com. Phil was a former editor of a UMass/Amherst humor magazine and it shows in his writing -- which is filled with colorful commentary along with very specific ideas on stock option purchases (Phil rarely holds actual stocks). Visit: Phil's Stock World (www.philstockworld.com)

© 2012 Copyright  PhilStockWorld - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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