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Monday, August 24, 2015 4:34 PM


US Equity Indices in Review: Buy-the-Dip Fails


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Today's action was not pretty, unless you were a bear. Here are a few charts to consider.

Dow 10-Minute



click on any chart for sharper image

In the first 10 minutes, the Dow fell 1,089 points. By 1:00, the Dow regained 990.88 points, but closed down 588.47 points, -3.57%.

S&P 500 10-Minute



In the first 10 minutes, the S&P 500 fell 103.88 points. By early afternoon, the S&P 500 regained 87.08 points, but closed down 77.68 points, -3.94%.

Russell 2000 10-Minute



In the first 30 minutes, the Russell 2000 small-cap index fell 50.86 points. By early afternoon, the Russell regained 42.65 points, but closed down 45.10 points, -3.90%.

Nasdaq 100 10-Minute



In the first 10 minutes, the Nasdaq 100 index fell 410.04 points. By early afternoon, the Nasdaq was amazing in the green, but closed down 158.67 points, -3.78%.

Low vs. Close

  • Nasdaq 100 Low: -9.77%
  • Nasdaq 100 Close: -3.78%
  • Dow Low: -6.62%
  • Dow Close: -3.57%
  • S&P 500 Low: -5.27%
  • S&P 500 Close: -3.94%
  • Russell Low: -4.40%
  • Russell Close: -3.90%

Those who bought any dip last week were in for a rude awakening this morning.

Mike "Mish" Shedlock

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