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S&P 500 support levels August 2015
Upfront the info that there seems to be a pretty important level at ca. 2.079 points (according to StockTA.com - statistics initially posted per 12th Aug. 2015/daily updated since then):
Interesting facts about the trading day 12th Aug. 2015 / source: bigcharts.com
U.S. stocks erased steep losses Wednesday (12th Aug. 2015) to close mostly higher, after the S&P 500 briefly descended into negative territory for the year and a second day of weakness for the Chinese yuan continued to send shock waves through global markets.
Traders unloaded telecommunication and financial stocks as worries about China—the world’s second-largest economy—continued after the country intervened on Wednesday (12th Aug. 2015) to manage the devaluation of the yuan
The Dow Jones Industrial Average DJIA,
+0.00% was virtually flat, closing down 0.33 points at 17,402.51, after having been off by as many as 277 points. Technically, the blue-chip index logged its ninth decline of the past 10 trading days. The last time the index suffered a loss in nine of 10 trading sessions was from May 7 to May 18, 2012, according to Dow Jones data.
Session moves of 200 points or more on the Dow have been running well above average this year, accounting for nearly one-fifth of trading days so far. At 27 days with point swings of 200 points or more, 2015 so far has been the most volatile year for the Dow since 2011, which saw 37 trading days where the index closed up or down more than 200 points, according to Dow Jones data.
The S&P 500 SPX,
+0.10% finished up 1.98 points, or 0.1%, at 2,086.05, after being off by as many as 32 points and venturing into negative territory for the year. The swing higher for the S&P 500, on a percentage basis, was the biggest positive reversal for the index since Oct. 4., 2011, according to Dow Jones data.
The Nasdaq Composite Index COMP,
+0.15% closed up 7.60 points, or 0.2%, at 5,044.39, after being down as many as 91 points. The tech-heavy Nasdaq spent much of the day struggling to clear the psychologically significant level of 5,000 reached back in March.
full articles: http://www.marketwatch.com
