As of yesterday’s close, the year-to-date gains for many of the major indices – excepting the first week run up – have been eliminated.
As of last night’s close, the NDX, the S&P500, and the Nasdaq comp are below the opening weeks’ highs.
click for larger graphs:
DJIA: The Dow sits just above its opening week highs:
The Russell 2000 is the one stand out, appreciably above its first weeks’ finish.
Essentially, the entire year’s performance gains have come from that single week’s run up.
UPDATE: April 18, 2006 12:39pm
Note: I whipped these up before the open —
Better make that one week and a day!
Ritholtz Research & Analytics
its not over till the cats and dogs run
and the russel has run
Most members thought that the end of the tightening process was likely to be near, and some expressed concerns about the dangers of tightening too much, given the lags in the effects of policy.
Hmm. Maybe I should ignore all the technicals and get on the gold and metals bandwagon. B, coming along?
Man oh man, how about the Yo-Yo moves coming from this Fed.
They’ve already done Hop the Fence, Brain Twister and Around the World. Now they’re working on Dizzy Baby and Double or Nothing. Let’s hope we don’t see Gravity Pull or Atomic Bomb.
Better than these guys:
Saudi market plunges 8% more
The Saudi stock market plunged another 8 per cent on Tuesday, taking its fall over the past nine days to 26 per cent.