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Stock Market Makes Fifth Consecutive Interim High

Stock-Markets / Stock Markets 2013 Jan 23, 2013 - 08:33 AM GMT

By: PhilStockWorld

Stock-Markets

Doug Short writes: The S&P 500 slipped at the open, just as the futures suggested, and fell to its intraday low, off 0.32%, an hour later. The index reversed direction, hesitated at the opening price for about 15 minutes at the noon hour and then rose steadily to its intraday high at the close, up 0.44%. Today’s gain is the fifth consecutive interim high for the index.


Here is a 5-minute chart of today’s action.


A daily chart illustrates the accelerating gains since the Fiscal Cliff two-day relief rally. A near-term breather might be in order.

The S&P 500 is now up 4.65% for 2013. From a longer-term perspective, the index is 120.6% above the March 2009 closing low and 4.6% 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)

© 2013 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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