S&P 500 Snapshot: A Modest Gain Breaks the Two-Day Decline

From dshort.com - Advisor Perspectives
January 9, 2013 - 5:09pm

Jan 09, 2013 Doug Short  The S&P 500 rose at the open and hit its intraday high 45 minutes into the session, up 0.52%. But the early enthusiasm faded through, and the index essentially halved its gain to close at 0.27%. Still, that broke a two-day losing streak. Here is an hourly look at the index over the past 15 sessions. I've highlighted the post-Santa Rally selling triggered by "Fiscal Cliff" worries. The congressional agreement on taxes resulted in a short relief rally, but we now seem to be in a trading range as earnings season gets underway.More...

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