Stocks plunge to end the week but not as bad as some recent days

Technical Analysis

When you have -10% days, a fall of -4.35% doesn’t sound that bad

The US stocks plunged once again today with the declines led by the Dow.  Although sharply lower, a fall of over 4% does not sound so bad when we’ve endured -10% moves of late.  What we know is the numbers are not pretty today/this week/YTD and over the last year.

A look at the final number for the day are showing:

  • S&P index fell -104.47 points or -4.34% to 2304.92
  • Nasdaq index fell -271.05 points or -3.79% to 6879.52
  • Dow fell -913.21 points or -4.55% to 9173.98

For the week, the numbers were horrible as well:

  • S&P index fell -14.98%
  • NASDAQ index fell -12.64%
  • Dow fell -17.3%

Year to date numbers for the major indices are showing:

  • S&P index, -28.66%
  • Nasdaq index, -23.33%
  • Dow -32.81% 

Finally, going back 1 year:

  • S&P index, -18.39%
  • NASDAQ index, -10.99%
  • Dow, -25.53%

No matter how you slice it, the final numbers for the day, the week, the year to date and the year are not pretty….not pretty at all.

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