All Or Nothing As Every Financial And Dow Stock Declines

This is an abridged version of our Daily Report.

All or nothing

In the past 11 sessions, there have been 8 all-or-nothing days, when Up Volume was above 80% or below 20%.

Even bear markets rarely see this level of uncertainty. Forward returns had a strong tendency to be positive, especially over the next two months (see inside).

Not a good time for financials

Every stock in the S&P 500 Financial Sector declined on Friday. That’s the 3rd time in the past 3 weeks that every financial stock declined. There have been four other periods of comparable wholesale selling, all leading to shorter-term rallies (see inside).

Dow(n) stocks

Being included in a Dow index is a badge of honor, but on Friday not so much. Every member of the three major Dow indexes declined on Friday (Industrials, Utilities, and Transports).

That’s the 4th time in three years, all leading to rallies, which was the case most times in the past 20 years (see inside).

The latest Commitments of Traders report was released, covering positions through Tuesday.

“Smart money” hedgers added to record long exposure in silver and sugar.

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The post titled All Or Nothing As Every Financial And Dow Stock Declines was originally published as on on 2018-04-09.

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