Sunday, January 10, 2016

WORST FIRST OF YEAR WEEK FOR STOCKS EVER!

Though the article cited was written after the first four days of trading in the New Year, the fifth day was down even further affirming the worst first week of trading in a new year.  In addition 2015 had now Santa Claus Rally (the week between Christmas and New Years) for the second year in a row.  A part of Wall Street lore is that as the first trading week of the new year goes, so goes the year.  So the very bad first week of trading this year is not a good sign though not definitive.

The SandP 500 traded more than 1 percent lower, holding more than 10 percent from its 52-week intraday high, joining the Dow and Nasdaq composite in correction territory in intraday trade.*
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U.S. stocks are sharply lower on the week, with the Dow Jones industrial average and SandP 500 posting their worst first four days of a year in history as of Thursday's close. 
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European stocks closed sharply lower, with the STOXX 600 and German DAX posting their biggest weekly losses since August 2011.
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High-frequency trading accounted for 49 percent of January's daily trading volume of about 8.43 billion shares, according to TABB Group. During the peak levels of high-frequency trading in 2009, about 61 percent of 9.8 billion of average daily shares traded were executed by high-frequency traders.

* http://www.cnbc.com/2016/01/08/us-markets.html

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