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S&P500 Market Update

Posted By Barry Ritholtz On April 28, 2010 @ 12:15 pm In Markets | Comments Disabled

The S&P downgrade of Greece and Portugal’s debt ratings whacked U.S. equities yesterday.

Lowry’s notes that the major market averages experienced their worst decline since Feb. 4th, with yesterday qualifying as a 90% Downside Day on the NYSE (94.5% of total Up/Down Volume).

The decline brought both indices to a test near term support.

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SPX DrawDowns Since Prior High

[1]
Chart courtesy of Bianco Research

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SPX Still in Up Channel

[2]
Chart courtesy of Fusion Analytics


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[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2010/04/drawdown0428101_big.gif

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