Seeking Alpha

The Inflection Point


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By Tom Henderson, Strategist JBH Capital

Below you will find closing prices for the Dow, S&P 500 and Nasdaq as of the close of July 10, 2009. I have included year-to-date stats and important moving averages as well.

For the week, the Dow lost 1.6%, the S&P 500 lost 1.9% and the Nasdaq lost 2.3%.Year-to-date, the Dow is down about 7%, the S&P 500 is down about 3% but the Nasdaq is up about 11%, continuing its year-to-date outperformance. Even though the Nasdaq has outperformed year to date, the gap has slightly closed over the past two weeks as the Nasdaq's drop over the past two weeks has exceeded both the Dow's and the S&P's drop.

The Dow is below its 50 dma and 200 dma. The S&P 500 is below its 50 dma but it is important to note that the S&P 500 has now closed below its 200 dma by about 0.81. The Nasdaq is now below its 50 dma but is still well above its 200 dma. Of note, all three indices are now below their respective 20 dma.

To recap, of the three indices and their respective 20 dma, 50 dma, and 200 dma, all indices have closed below all of those moving averages except for the Nasdaq which still holds its 200 DMA. The eight others have failed.

These stats are from Yahoo Finance. The moving averages are calculated by me.

Disclosures: none