Some Notes on Today’s Market

A few notes to pass along. The 10-year Treasury dipped below 1.25% today. That’s an all-time low.

The S&P 500 is down 10.76% this week (just four trading days.) Our Buy List is down by 9.15%. That’s a big outperformance gap for such a short time period.

This looks to be the fastest the market has ever gone from an all-time high to being down more than 10%. Historically, most big crashes have come after slowly crumbling markets, not from peaks.

For the first time in nine months, the S&P 500 closed below its 200-DMA.

Only nine stocks in the S&P 500 are above their 20-DMA. Four stocks in the index made new highs today while 107 made new lows. In the S&P 500, 268 stocks are more than 17% off their 52-week high.

Since January 3, the S&P 500 High Beta index is down -14.77% while the Low Vol index is down just 3.84%.

Posted by on February 27th, 2020 at 10:38 pm


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