Stock Market Second Day of Selling :: The Market Oracle :: Financial …
Stock Market Second Day of Selling
/
Stock Markets 2014Jul 09, 2014 – 12:02 PM GMT
By: PhilStockWorld
Courtesy of Doug Short.
Another day of no economic news coupled with fretting about Q2 earnings took its toll on the market. The S&P 500 opened in the shallow red at its intraday high and sold off to its -0.92% intraday low early in the lunch hour. A 90-minute afternoon rally lost traction and gave up about half its gain. The index closed with a 0.70 loss.
The yield on the 10-year note ended the day at 2.58%, 5 bps below the previous close. It is now 14 bps above its interim closing low of May 28th.
Here is a chart of the past five sessions. The index is up 6.24% year-to-date and 1.08% below its record close last week.
Here is a daily snapshot of the SPY ETF, where trading volume saw a substantial increase.
For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.
– Phil
Click here for a free trial to Stock World Weekly.
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.
PhilStockWorld
© 2005-2014 http://www.MarketOracle.co.uk – The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
Only logged in users are allowed to post comments.
Link:
Stock Market Second Day of Selling :: The Market Oracle :: Financial …
See which stocks are being affected by Social Media
