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Stock Market Opens 2014 in a Minor Key

Stock-Markets / Stock Markets 2014 Jan 03, 2014 - 11:11 AM GMT

By: PhilStockWorld

Stock-Markets

Courtesy of Doug Short: On Tuesday the S&P 500 closed out 2013 with a major bang, setting another all-time high. Today, the first market day of 2014, the index opened in a minor key with selling pressure from the opening bell. It hit its -0.14% intraday high in the opening minutes and sold off to its -1.12% mid-afternoon intraday low. By the closing bell it had trimmed the loss to 0.89%.


Before the market opened, the Weekly Jobless Claims missed expectations and its 4-week moving average is almost back to where it was at the end of 2014. On a more positive note, the ISM Manufacturing Index showed continued growth in December, although fractionally lower than in November.

According to the U.S. Treasury, the yield on the 10-year note closed at 3.00, down 4 bps from its interim high on Tuesday.

Here is a 15-minute look at the holiday-interrupted week so far.

Volume picked up from the holiday lull but remained below its 50-day moving average.

Here is a longer perspective, starting with the all-time high prior to the Great Recession.


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

Click here for a free trial to Stock World Weekly.

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.

PhilStockWorld Archive

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