S&P 500 closed in red for 3rd week in row (longest losing streak since September); last week was also worst in over a year (-3.0%); despite sell-off, handful of large-cap segments were up with Utilities leading way; worst-hit was Technology
@SPDJIndices pic.twitter.com/LoNvVeDKZh
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Liz Ann Sonders
LizAnnSonders
S&P 500 Momentum Index has continued to roll over ... rolling 20-day % change worst since 2022 bear market low
[Past performance is no guarantee of future results] pic.twitter.com/UIkviCjKsX
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Ryan Detrick, CMT
RyanDetrick
How rare was Friday?
More than 300 stocks in S&P 500 were green, yet the index was down 0.9%.
Using data back to 1998 that happened only ONE OTHER TIME.
10/2/20 saw 313 stocks up, but it fell 1.0%.
Again, things are improving under the surface if you look at the data.
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Ryan Detrick, CMT
RyanDetrick
45 stocks in the S&P 500 made a new 10-day high on Friday.
Most in nearly two weeks.
Yes, Friday felt ugly, but under the surface there were some positives.