For the day, the DOW finished up 109 points, the S&P finished up 1.4% (after reaching 910 for the day’s high), the NDX closed the day up .9%, and the RUT led again, gaining 3.4%.
I note that the indices fell back finally right at the close and that the futures only 15 minutes after the close are already off by more than the entire gain of the day, the DOW futures are down 120 points from the close already, and the /ES has already fallen to the 890 area.
My rough calculations for the YEAR/(from last year’s PEAK) are as follows respectively: The DOW finished down 34% (38.2%), the S&P finished down 39% (42.7%), the NDX finished down 42.2% (45.9%), and the RUT lost 35% (41.7%). Remember, those figures are AFTER bouncing considerably off the November bottoms. Also remember that the average investor’s performance was worse than those numbers.
Here’s a good one… for the year, of the 500 companies in the S&P 500, there were only 22 advancers and 478 decliners (and that’s with substitution bias higher and a year end rally).
I note that end of day transactions pushed today’s volume above yesterday’s, thus creating a higher close on higher volume.
Have a Happy New Years!
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