A Very Narrow Week for the Stock Market

An incredible lack of volatility this week, as the S&P 500 has stayed in a 11 point range the entire week: 1328 to 1339.  If not for the gap ups Wednesday and today, the market would be negative on the week but due to the overnight/premarket action we’ve essentially been stuck in quicksand.

S&P 500 intraday this week:

On the plus side, this is the first real consolidation after a big rally we’ve seen in over half a year – that is more normal action than the straight up action (90% of the time) or straight down (10% of the time) experienced since QE2 unleashed as a concept to market participants.   As always, the longer the sideways action the more powerful the ensuing move – either up or down.

About Mark Hanna 542 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

Visit: Market Montage

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