Stock Market Indicators: 2-Day Moving Averages August 12, 217 Dr. Ed Yardeni 516-972-7683 eyardeni@ Joe Abbott 732-497-536 jabbott@ Debbie Johnson 48-664-1333 djohnson@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents S&P 5 Moving Averages 1-2 Dow & Nasdaq Moving Averages 3 S&P 5 Sectors Stock Price Index & 2-dma 4 S&P 5 Sectors Stock Price Index Minus 2-dma 5 2-Day Moving Averages 6-7 August 12, 217 / 2-Day Moving Averages www.
S&P 5 Moving Averages 3 275 25 225 Figure 1. S&P 5 BULL & BEAR MARKETS & CORRECTIONS: 28-217 (ratio scale) 3 275 25 225 2 2 175 175 125 125 1 2-day moving average 1 75 75 5-56.8% (517) -16.% (7) -19.4% (7) -9.8% (28) -9.9% (6) -7.7% (62) -5.8% (34) -5.8% (19) -6.9% (37) -12.4% (96) -13.3% (1) Note: Corrections are declines of 1% or more, while minor ones are 5%-1% (all in blue shades). Bear markets are declines of 2% or more (in red shades). Number of calendar days in parentheses. Source: Standard & Poor s. 5 3 25 2 1 5-5 -1-2 -25-3 -35-4 -45 Figure 2. S&P 5 INDEX (as a percent of 2-day moving average) % from 2-day moving average (4.) Source: Standard & Poor s Corporation. 3 25 2 1 5-5 -1-2 -25-3 -35-4 -45 Page 1 / August 12, 217 / 2-Day Moving Averages www.
8 7 6 Figure 3. S&P 5 TRANSPORTATION INDEX (ratio scale) S&P 5 Moving Averages 8 7 6 5 5 4 4 3 3 2 S&P 5 Transportation Index (63.4) 5-day moving average (653.52) 2-day moving average (623.3) 2 1 Source: Standard & Poor s Corporation. 1 Figure 4. 22 DOW JONES INDUSTRIALS AVERAGE: 28-214 2 (ratio scale) 18 16 22 2 18 16 14 14 12 12 1 1 8 Dow Jones (21858.32) 5-day moving average (25.52) 2-day moving average (2483.59) 8 6 Source: Haver Analytics. 6 Page 2 / August 12, 217 / 2-Day Moving Averages www.
Dow & Nasdaq Moving Averages 1 Figure 5. DOW JONES TRANSPORTATION INDEX: 28-214 (ratio scale) 1 8 8 6 6 4 4 Dow Jones Transporation Index (9199.5) 5-day moving average (9417.22) 2-day moving average (99.24) 2 Source: Haver Analytics. 2 7 6 Figure 6. NASDAQ (ratio scale) 7 6 5 5 4 4 3 3 2 2 Nasdaq (6256.56) 5-day moving average (6271.57) 2-day moving average (5837.74) 1 Source: Haver Analytics. 1 Page 3 / August 12, 217 / 2-Day Moving Averages www.
9 7 5 3 Figure 7. S&P 5 Sectors Stock Price Index & 2-dma CONSUMER DISCRETIONARY* INDUSTRIALS 75 625 5 375 25 1 6 7 8 9 1 11 12 13 14 16 17 18 6 7 8 9 1 11 12 13 14 16 17 18 125 675 575 475 375 CONSUMER STAPLES INFORMATION TECHNOLOGY 1175 975 775 575 275 375 175 6 7 8 9 1 11 12 13 14 16 17 18 6 7 8 9 1 11 12 13 14 16 17 18 175 9 75 ENERGY MATERIALS 4 325 6 25 45 175 3 6 7 8 9 1 11 12 13 14 16 17 18 6 7 8 9 1 11 12 13 14 16 17 18 1 7 575 45 325 FINANCIALS TELECOMMUNICATION SERVICES 235 195 5 2 Includes Real Estate through September 216 1 75 6 7 8 9 1 11 12 13 14 16 17 18 6 7 8 9 1 11 12 13 14 16 17 18 75 11 925 75 575 HEALTH CARE UTILITIES 3 25 2 4 225 6 7 8 9 1 11 12 13 14 16 17 18 6 7 8 9 1 11 12 13 14 16 17 18 1 2-day moving average * S&P 5 sector price indexes on ratio scales. Source: Haver Analytics and Standard & Poor s Corporation. Page 4 / August 12, 217 / 2-Day Moving Averages www.
6 4 2-2 -4-6 S&P 5 Sectors Stock Price Index Minus 2-dma Figure 8. CONSUMER DISCRETIONARY (% from 2-day moving average) (3.4) INDUSTRIALS (3.1) 4 2-2 -4-6 3 CONSUMER STAPLES INFORMATION TECHNOLOGY 5 25 (2.) (9.5) -25-3 -5 4 2 ENERGY MATERIALS 4 2-2 -4 (-8.5) (2.1) -2-4 -6-6 5 25 FINANCIALS TELECOMMUNICATION SERVICES 3-25 -5 (3.8) (-3.1) -3-75 -45 3 HEALTH CARE UTILITIES 3-3 -45 (5.9) (5.9) -3-45 Source: Haver Analytics and Standard & Poor s Corporation. Page 5 / August 12, 217 / 2-Day Moving Averages www.
2-Day Moving Averages 9 85 8 75 7 65 6 55 5 45 Figure 9. S&P 5 SECTOR PRICE INDEXES* (2-day moving average, ratio scale) Consumer Disrcretionary Consumer Staples Health Care Information Technology 9 85 8 75 7 65 6 55 5 45 4 4 35 35 3 3 25 25 2 2 * S&P 5 sector price indexes on ratio scales. Source: Standard & Poor s Corporation. 9 8 7 6 5 4 Figure 1. S&P 5 SECTOR PRICE INDEXES* (2-day moving average, ratio scale) Energy Materials Industrials 9 8 7 6 5 4 3 3 2 2 1 1 * S&P 5 sector price indexes on ratio scales. Source: Standard & Poor s Corporation. Page 6 / August 12, 217 / 2-Day Moving Averages www.
6 55 5 45 4 35 3 Figure 11. S&P 5 SECTOR PRICE INDEXES* (2-day moving average, ratio scale) 2-Day Moving Averages Financials Telecommunication Services Utilities 6 55 5 45 4 35 3 25 25 2 2 1 1 * S&P 5 sector price indexes on ratio scales. Source: Standard & Poor s Corporation. Page 7 / August 12, 217 / 2-Day Moving Averages www.
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