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Trading Lessons

Stock Market Selloff Resumes

Stock-Markets / Stock Markets 2014 Apr 11, 2014 - 01:35 PM GMT

By: PhilStockWorld

Stock-Markets

The pre-market release of an unexpectedly good jobless claims report was ignored by today’s market. The three-day selloff in the S&P 500 that began last Thursday resumed after a two-day reprieve. The index fell steadily through the day with a failed attempt to reverse directions in the early afternoon and again in the closing hour. The -2.09% final tally was fractionally off the -2.21% intraday low shortly after 3 PM. This was the second worst decline of the year — the worst being the -2.28% of February 3rd. Once again the Tech Sector posted the biggest declines, with the Nasdaq Composite down 3.10%, its biggest drop since November 2011.


The yield on the 10-year note finished at 2.65%, down 6 bps from yesterday’s close. The interim high yield was 3.04% at the end of 2013.

Here is a snapshot of the past five sessions, which shows the downtrend from the record intraday high last Friday, the subsequent two-day advance and today’s renewed selloff.

On the daily chart we see that today’s decline came on increased volume. The index is now below its 50-day moving average.

The S&P 500 is now down 0.83% for 2014.

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

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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)

© 2014 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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