The market was not in its happy place today. Right after I told you how placid the market has been acting in the last newsletter, the S&P 500 dropped 2.09% today.

This was the worst day of the year so far. It was the first 2% decline in 2015, and it was the biggest drop since February 3, 2014. The S&P 500 is now down for the year. The index is just above its 200-day moving average.


The weak spots today were healthcare, financials and materials. The best areas, meaning down the least, were utilities and energy. Today was a Quadrant 3 day.

The S&P 500 High Beta index was off 2.73% while Low Vol was down 1.82%. The S&P 500 High Quality Index was down 1.86%.

This was a harsh day for our Buy List as well. We were down 2.52% today which was 43 basis points worse than the market. But that comes after an impressive run of beating the S&P 500. We’re still 288 basis points ahead of the market. Qualcomm (QCOM) came near its 52-week low. The stock now yields just over 3%.

Posted by on June 29th, 2015 at 6:32 pm

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