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Miserable Charts – 97% Stocks in S&P 500 Down Led by Intel (INTC)

November 19, 2009

What a miserable morning. Led by a downgrade of Intel (INTC) and a concern that the recent rally is ahead of economic realities, investors have been itchy to sell. Volume has been confirming that we are in for some type of correction, yet most of the recent ones have been mild.

Once again though we are watching a very heavy volume line in today’s early action and that shows that institutions are unloading. Also, tomorrow is options expiration for November. Option-x has been volatile in the past and now with the S&P 500 under 1,100, there is sure to be a battle between the bulls and bears over the next 48 hours.

SP Pie 20091119

S&P Sectors 20091119

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Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.

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Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.

Written by Andrew Horowitz · Filed Under Earnings, Economy, Markets, Stocks 

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3 Responses to “Miserable Charts – 97% Stocks in S&P 500 Down Led by Intel (INTC)”

  1. 86% of Stocks Up in S&P – One Sector DOWN : The Disciplined Investor on December 1st, 2009 10:47 am

    [...] way, it is interesting to note that only a few days after a 97% down day for the S&P 500 on higher volume, we are seeing such a quick snap [...]

  2. Tuesday’s Market: 86% of Stocks Up in S&P 500, While Only Financials Declined | Reaction Radio on December 2nd, 2009 3:41 am

    [...] way, it is interesting to note that only a few days after a 97% down day for the S&P 500 on higher volume, we are seeing such a quick snap [...]

  3. Jeff Burke on March 1st, 2010 7:20 pm

    Ah i remember this day – it was almost tragedy for me :(

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