Which Index Had No Down Days For The Past Two Days?
For at least a week, we have been telling our paid subscribers to be very careful. We commented that risk levels were getting very concerning (as seen by the posted charts in the Standard site's Special Chart section).
We continued ... Conditions are now likely to be more erratic and volatile. This is a good time for you to ask yourself: "Is the upside potential worth the downside risk?" The possibility is increasing for two downside days to erase two weeks of upside movement. That is action that is too fast for many, so choose your battles carefully.
So, what happened in the past two days?
The chart below show's how many days of each index were erased by the past two days of downside movement:
|Index||Number of Days of up movement erased:|
|NASDAQ 100||34 days|
|NYA Index||21 days|
|S&P 500||11 days|
|S&P 100||11 days|
|Russell 2000 (IWM)||11 days|
At the same time there was one S&P Sector that experienced NO down days at all.
What was it?
It was the Consumer Staples Sector (XLP ETF). (FYI ... subscribers can log on to see what the 10 top stocks in this sector were.)