Stock Market All-Time Intraday High Fades at the Finish :: The …

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Stock Market All-Time Intraday High Fades at the Finish

Stock Markets 2013Nov 30, 2013 – 01:32 PM GMT

Courtesy of Doug Short. On a light day of post-Thanksgiving trading, the S&P 500 opened higher and rallied to its mid-morning intraday high, up 0.35%, which set a new all-time intraday high for the index. Action moved sideways until the lunch hour, selling dropped the index to its 0.18% intraday low, which was subsequently trimmed to a 0.08% loss at the 1 PM early close.

The S&P 500 is up a miniscule 0.06% for the week, but that gives us eight consecutive weekly gains, the most since the nine-week streak that ended in early 2004. The index is up 2.80% for the month.

Here is a 15-minute look at the four-day Thanksgiving week.

Today’s 0.53% intraday range is at the 19th percentile of the 231 market days of 2013.

The S&P 500 is now up 26.62% for 2013 and 0.08% below the all-time closing high of November 27.

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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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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