First Trading Day of June: 1962-2011

Today’s 2.28 percent decline in the S&P500 ranks as the second worst start of June in the past 50 years.   Since 1962 there have 29 up days and 21 down days to start the month.  The S&P closed below the 50-day and closely watched 100-day moving average.  Given the ugly macro picture, we doubt last week’s low of 1311.80 holds, which leaves 1300 and 1294 as the next level of support before a move down to the 200-day moving average at around 1245.

(click here if chart is not observable)

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1 Response to First Trading Day of June: 1962-2011

  1. Pingback: Sell in May and Go Away Trade: First 32 Days | Global Macro Monitor

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