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Stock Market Four Day Losing Streak Ends

Stock-Markets / Stock Markets 2013 Dec 17, 2013 - 06:56 AM GMT

By: PhilStockWorld

Stock-Markets

Courtesy of Doug Short: When the US stock exchange opened, world markets were a mixed bag. The Nikkei and Shanghai Composite had both closed with 1.6% losses, but the EURO STOXX 50 was up 1.7% on Markit’s strong Flash Eurozone Composite Purchasing Managers’ Index (PMI). The US followed the EU exemplar with an Industrial Production increase that substantially exceeded expectations. The S&P 500 rallied at the open and hit its 0.95% intraday high at 10 AM. The index then coasted to a trimmed gain of 0.63% for the day, snapping a four-day losing streak.


The big news this week will be the outcome of the two-day FOMC meeting that starts tomorrow.

Here is a 15-minute look at the last five sessions. On Friday I highlighted what appeared to be some near-term consolidation. Today we got a welcome, if somewhat restrained, advance.

Volume on the SPY ETF, which is probably a better investor sentiment indicator than index volume, certainly underscores the notion of restraint. Volume was light on today’s inverted hammer, as investors await the Fed’s pleasure.

The S&P 500 is now up 25.27% for 2013 and 1.21% below the all-time closing high of December 9.

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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