S&P 500 Snapshot: Selling The Start Of The Q4 Earnings Season

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January 13, 2014 6:40pm NYSE:SDS NYSE:SH

technicalDoug Short: With Q4 earnings season ready to shift into high gear, the US indexes shifted into retreat. The S&P 500 opened fractionally lower, rose to its 0.06% intraday high an hour later. It then began a selloff that gradually accelerated


to a -1.46% intraday low late in the day. Some buying the dip (or short covering) trimmed the closing loss to 1.26%, the worst daily close since the -1.32% decline on November 7th.

Here is a 5-minute look at today with a bit of Friday for context.

The yield on the 10-year note dropped 4 bps to 284%, which is 20 bps below the interim high at the end of 2014.

Volume on today’s selling was 17% above the 50-day moving average. The index is about 18 points above its 50-day price moving average.

The S&P 500 is now down 1.58% since its all-time high at the end of 2014.

Here is a longer perspective, starting with the all-time high prior to the Great Recession.

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Click to View

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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.

This article is brought to you courtesy of Doug Short from Advisor Perspectives.


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