Intraday Update (New 20-day Lows Contracting)

Interesting to note that with the S&P500 trading more than 0.5% below yesterday’s low, new 20-day lows remain at 650, about 100 fewer than yesterday’s session. Typically you’ll see an expansion of new 20-day lows when the SPX trades below the previous day’s low given that this is a much more sensitive measure than the 52-week high/low data. In the five-year history we have on this data, this has only occurred 23 times, 17 of which led to a bounce the following session…

S&P500 Trades 0.5%+ Below Yesterday’s Low, New 20-day Lows Contract
06/03/09… S&P500 +1.2% next day
04/28/09… S&P500 +2.2% next day
04/14/09… S&P500 +1.3% next day
04/01/09… S&P500 +2.9% next day
03/20/09… S&P500 +7.1% next day
03/03/09… S&P500 +2.4% next day
02/23/09… S&P500 +4.0% next day
12/18/08… S&P500 +0.3% next day
11/21/08… S&P500 +6.5% next day
10/27/08… S&P500 +10.8% next day
10/09/08… S&P500 -1.2% next day
10/07/08… S&P500 -1.1% next day
09/22/08… S&P500 -1.6% next day
09/18/08… S&P500 +4.0% next day
09/17/08… S&P500 +4.3% next day
08/07/08… S&P500 +2.4% next day
07/28/08… S&P500 +2.3% next day
03/27/08… S&P500 -0.8% next day
01/25/08… S&P500 +1.8% next day
01/08/08… S&P500 +1.4% next day
01/07/08… S&P500 -1.8% next day
12/18/07… S&P500 -0.1% next day
11/12/07… S&P500 +2.9% next day

Categories : Archived Intraday Commentary, Intraday Commentary

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