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Chart: All 500 Stocks are DOWN (Dubai Effect)

November 27, 2009 10:05 am

Friday morning we witnessed the hangover from the Dubai scare for markets around the world. In fact there was an indiscriminate sell-off and all 500 of the stocks in the S&P 500 index are down in early trading.

Markets close early in the U.S. and many traders have been said to have taken the day off. Yet, volume is already much higher than each of the days over the last few weeks. Once again, seeing high volume on “down” days and lower volume on the “up” days. That has been a signal for caution…

Click chart to enlarge

spx_112709c

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

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Written by Andrew Horowitz · Category(s) Economy, Markets    |  Tags: •   

2 Responses to “Chart: All 500 Stocks are DOWN (Dubai Effect)”

  1. TDI Podcast 137: 2 Stock Ideas, Dubai and Indicators : The Disciplined Investor on November 29th, 2009 11:59 pm

    [...] Chart: All 500 Stocks are DOWN (Dubai Effect) [...]

  2. Indicators We are Watching – Caution Signals : The Disciplined Investor on November 30th, 2009 8:45 am

    [...] S&P 500 saw 99% of stocks down by then end of trading on Friday due to the Dubai Effect. That may be alleviated for the time being [...]

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