Stocks July 9, 2008
After a big up day yesterday, the market tanked today. It is important to note that the overall market trend is still southward, and the sellers came back in droves today. The market erased all the gains from yesterday.
The small cap Russell 2000 index ( -2.78% ) and the tech heavy Nasdaq ( -2.6% ) took the brunt of the beating. 227 new lows were registered on the Nasdaq as compared to 40 new highs.
The indices were up in the morning and closed near intra-day lows.
On a positive note, volume was lower.
The sectors that lost the most were Financials (IYF -5.1%) and Real-Estate (ICF -7.67%) ETFs. Among the industry groups losing ground were Home Construction (ITB -7.31%), Broker-Dealers (IAI -5.87%) and Regional Banks (RKH -5.2%), Semiconductors (IGW -4.05%) and Leisure & Entertainment (PEJ -3.31%).
The sectors that ended higher were Metals & Mining (XME 0.6%), Utilities (IDU 0.81%) and Healthcare (XLV 0.48%). The industry groups that did well included Pharmaceuticals (XPH 1.11%), Hospitals, Food & Metal products, Steel (SLX 0.80%), Coal (KOL 0.42%).
As is to be expected from the sector rotation model, defensive sectors that include Healthcare, Utilities and Consumer Staples have been demonstrating strength lately.
| Index | Close | Today’s Chg | One Week | One Month | Three Months | Six Months | One Year |
| Dow Jones Industrials | 11147.44 | -2.08% | -2.06% | -9.23% | -11.01% | -11.45% | -17.44% |
| NYSE Composite | 8371.63 | -1.69% | -3.12% | -8.50% | -7.75% | -10.23% | -15.89% |
| Nasdaq Composite | 2234.89 | -2.60% | -3.04% | -9.13% | -3.76% | -8.43% | -15.32% |
| S&P 500 | 1244.69 | -2.28% | -3.13% | -8.60% | -8.11% | -10.47% | -17.58% |
| Russell 2000 | 663.75 | -2.78% | -4.03% | -9.72% | -4.96% | -5.83% | -20.74% |
MaxMoneyBlog Market Index (MMI), NYSE, Nasdaq, S&P 500, Russell 2000 charts.
Current Outlook
| Index | Short Term | Long Term |
| Dow Jones Industrials | Bearish | Bearish |
| NYSE Composite | Bearish | Bearish |
| Nasdaq Composite | Bearish | Bearish |
| S&P 500 | Bearish | Bearish |
| Russell 2000 | Bearish | Bearish |
Sector Summary
| Index | Close | Today’s Change | One Week Return | One Month Return | Three Months Return | Six Months Return | One Year Return |
| Basic Materials | 77.27 | -0.08% | -7.57% | -12.16% | -3.04% | 6.85% | 9.49% |
| Consumer Discretionary | 27.85 | -2.11% | -0.96% | -10.52% | -10.29% | -7.78% | -28.15% |
| Consumer Staples | 27.02 | -0.99% | 1.12% | -3.25% | -2.73% | -3.39% | 1.55% |
| Energy | 138.11 | -2.08% | -9.50% | -9.04% | 1.34% | 5.20% | 12.27% |
| Financials | 65.44 | -5.10% | -4.52% | -14.15% | -21.58% | -23.19% | -41.24% |
| Health Care | 31.25 | 0.48% | 2.19% | 0.47% | -0.95% | -11.83% | -9.84% |
| Industrials | 62.80 | -2.10% | -2.62% | -10.27% | -9.50% | -6.20% | -14.24% |
| Metals Mining | 80.42 | 0.61% | -13.43% | -12.65% | 3.56% | 27.89% | 24.83% |
| Real Estate | 71.06 | -7.67% | -5.29% | -11.61% | -12.61% | 2.43% | -19.00% |
| Technology | 52.49 | -3.08% | -3.42% | -10.22% | -2.01% | -6.23% | -12.86% |
| Telecom | 22.94 | -2.80% | -3.78% | -12.78% | -2.92% | -15.88% | -30.94% |
| Transports | 85.96 | -2.31% | -1.04% | -9.69% | 0.44% | 16.09% | -6.67% |
| Utilities | 40.67 | 1.19% | -0.59% | -0.47% | 3.73% | -4.55% | 5.89% |
Sector Return Bar Charts
| Today’s Change | One Month Return | Six Month Return |
 |
 |
 |
Current Outlook
| Index | Short Term | Long Term |
| Basic Materials | Bearish | Bearish |
| Consumer Discretionary | Bearish | Bearish |
| Consumer Staples | Bearish | Bearish |
| Energy | Bearish | Bullish |
| Financials | Bearish | Bearish |
| Health Care | Bullish | Bearish |
| Industrials | Bearish | Bearish |
| Metals Mining | Bearish | Bullish |
| Real Estate | Bearish | Bearish |
| Technology | Bearish | Bearish |
| Telecom | Bearish | Bearish |
| Transports | Bearish | Bullish |
| Utilities | Bullish | Bullish |
July 10th, 2008 at 12:27 am
[...] refer to respective posts for more details on Stocks, Bonds and [...]