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Stock Market Rebound Amid a Worldwide Selloff

Stock-Markets / Stock Markets 2013 Aug 21, 2013 - 09:40 AM GMT

By: PhilStockWorld

Stock-Markets

Courtesy of Doug Short: World markets were in selloff mode before the US market opened. The had Nikkei plunged 2.63%, the Hang Seng 2.20% and the EURO STOXX 50 was down approximately 1.25%, the level it closed at a few hours later. The S&P 500 opened fractionally higher and rose to a narrow 3-point trading range that lasted from late morning until the final 30 minutes of the day. The 0.78% intraday high at 1 PM was essentially reduced by half at the close bell, a gain for the day of 0.38%.


The yield on the 10-year note closed at 2.82%, down 6 bps from Monday’s 2.88% close, which was the interim high since the historic closing low of 1.43% on July 25th of last year.

Here’s a 10-minute look at the week so far. I’ve highlighted today’s 50-day moving average, which, coincidentally enough, was near the top of that narrow 4-hour trading struggle.

A daily chart gives a better look at the 50-day price MA over time. We also see that today’s battle at the key moving average didn’t trigger a significant surge in trading volume. While the volume was a bit higher than yesterday, it was still 14% below its 50-day MA (compared to -21% yesterday).

The S&P 500 is now up 15.86% for 2013 and 3.35% below the all-time closing high of August 2.


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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