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After a major event in the market, I like to take the evening and assess what happened and what little bits of information stick out that other people might be missing.
Let’s take a look at some of those bits of information and market facts as the dust settles from Tuesday June 29th’s mini-crash.
First, a look at the Heat-Map from FinViz:
Click on image to enlarge!
Looking at the helpful FinViz Heatmap Tool, you’d guess that all stocks in the S&P 500 were down today … which is almost true.
Only One SP500 Stock was up as the day closed:
ZMH: Zimmer Holdings (0.05%)
The worst 5 performers of the day?
MU: Micron Tech (down 13%)
CLF: Cliff’s Natural Resources (down 11%)
TXT: Textron
AKS: AK Steel
TIE: Titanium Metals
Now let’s rise above the Stock Market and see the broader picture so far this week on the cross-markets:
Click on image to enlarge!
Also from FinViz, we see the performance of asset classes so far this week.
The S&P 500 is down 3.3% along with the NASDAQ, though the Russell 2000 is down 4% so far.
The worst markets this week? Sugar, Natural Gas, Palladium and Copper.
Best? The safety assets of bonds.
I highlighted a breakout in bond prices on Monday – once again, just like the May 6th “Flash Crash,” the signal from bonds in the form of a breakout preceded (warned) of today’s crash.
This will teach traders to watch bond prices closer, perhaps.
Use days like this to study what happened across the markets and where the broken pieces lie after an event as strong as Tuesday’s stock market and crude oil sell-off.
For more daily updates from Corey, visit his blog at Afraid to Trade.com |