Stock Market Ukraine-Triggered Volatility, But a Flat Finish :: The …
Stock Market Ukraine-Triggered Volatility, But a Flat Finish
/
Stock Markets 2014Aug 16, 2014 – 04:13 PM GMT
By: PhilStockWorld
Courtesy of Doug Short: Today was a busy one for economic updates: the Producer Price Index, Industrial Production and Consumer Sentiment. But the market was primarily focused on the international scene — most notably the conflict in Ukraine. The S&P 500 rose at the open, hitting its 0.45% intraday high an hour later. The breaking news from Europe then sent the index into a sharp nosedive to its -0.70% intraday low shortly before noon. It slowly slogged its way back to an essentially flat finish, down -0.01% for the day. On a brighter note, the index was up 1.22% for the week.
Treasury yields again headed lower. The yield on the 10-year Note closed at 2.33%, down 7 bps from yesterday’s close and a new interim closing low at a level last seen on June 19, 2013. Similarly the yield on the 30-year Bond ended the day at 3.13%, its lowest since the 3.09% on May 16, 2013.
Here is a 15-minute chart of the week.
Here’s a daily chart of the SPY ETF. Volume was a ghostly 36% below its moving average yesterday, but today it was 57% above that level.
A Perspective on Drawdowns
The chart below incorporates a percent-off-high calculation to illustrate the drawdowns greater than 5% since the trough in 2009.
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.
Continue at source:
Stock Market Ukraine-Triggered Volatility, But a Flat Finish :: The …
See which stocks are being affected by Social Media
