The Truth About Yesterday’s Market Fall
Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows the S&P 500 index with all the days where it closed at least 2% lower marked in blue. For every one of those -2% closes, it shows how many stocks in the index closed higher despite the lower overall close. Yesterday, 165 stocks – 33% of the index – closed higher even though the index fell by 2.3%. This was the highest number by far in the past 10 years. What does this mean? I explain more in the Insight of the Day.