Indices Barely Down, Stocks Murdered
The SP500 went 109 days without a negative -1% close; we ended the day down -1.24%. Now, -1.24% does not seem like a lot. However, individual stocks were murdered today. 526 stocks were down -4% or more today, the highest number since 9/9/2016. Spikes in stocks down -4% or more usually lead to a short-term bounce, but then it is typically followed by a lower low on the indices days later.
We also had 1,121 new 1-month lows, 558 3-month lows, and 572 new year-to-date lows. The measly -1.24% loss in the SP500 doesn’t tell you a quarter of the story.
This is how the SP500 sectors fared today;
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.
We live in a world in which we are bombarded with information, tweets, blogs, etc., content is the new salesman, content is the new marketing, content is the new networking. With information being so readily available, bloggers try to differentiate themselves with their writing skills, volume, and consistency, putting out blog posts to meet quotas. We are seeking to stand out from the crowd by showing performance, by taking all the information and seeking alpha, that’s the sole purpose of the blog. It won’t always be pretty; it’s never easy, and performance is spotty, but we seek superior risk-adjusted returns, not notoriety for our writing skills. If this is something you can relate to, then this blog is for you.