S&P 500 Snapshot: Another Day of Light Selling Before Earnings

From dshort.com - Advisor Perspectives
January 8, 2013 - 5:30pm

Jan 08, 2013 Doug Short  The S&P 500 sold off at the open to an intraday low of 0.71% by late morning. The index struggled off the lows in the afternoon and trimmed the day's loss to 0.32% at the close. Here is a 2-hour look at the index since the end of November. We can see the post-election selloff, the "Boehner Bounce" rally in hopes of a Cliff resolution, which evolved into an erratic Santa rally that was largely reversed when Cliff anxieties returned. The rally following the near-term Cliff vote was a relatively brief, and the market has shown some misgivings as we head into earnings season.More...

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