On December 9th, the 50-day average absolute daily change of the S&P 500 reached 4.02%, which was its highest reading ever. That level looks like it was the peak, at least in the short term. Since the 9th, the average daily change has fallen to 3.38%, which is a pretty significant drop in such a short period of time. Like the price of oil, this is one indicator that most investors would love to see keep falling.
Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.
(Not sure this is being repeated since i don't see my earlier comment.)
What is the historical record for the month of January as a siginificant bottom preceding a 30 or 40% rally ?
Thank you
Posted by: dt | December 23, 2008 at 01:47 PM
2008 was certainly the year of the trader ... unbelievable price swings!
thanks for the great research guys
best of luck in 2009
Posted by: Chris | December 26, 2008 at 09:50 AM