Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Down to the Five and Dime


That's 5% down for the SP and 10% down for the ND Minyans


With yesterday's decline, we reached a few milestones in very short order. The low in the SP futures marked a 5% correction from the high set last Friday. Now that's a fast move. The ND made its high in January but completed a 10% correction to yesterday's low. Yikes!

I was most interested in looking at the dynamics of the SP move to see how often we've seen such a rapid decline from a new high. The query looked for a new 100 day high in the SP futures and a 5% decline in four trading days. There were eleven occurrences. Below is a table which summarizes the performance for the following day and then the net change for the next ten and thirty days.

I was most surprised to see that the market was higher thirty days out in all but two of the occurrences. Careful Minyans, let's not allow that fact to undermine the potential importance of last week's high. Note that the most recent occurrence was March 2000. Enough said!

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos