Market Oddities And Nikkei Reversal
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This morning, the S&P futures saw a fairly large gap down open (large in terms of recent memory, anyway). Since the election, further losses have been contained, so as always it probably says something if we see further losses in the day(s) ahead.
Part of the reason for the negative opening could have been investors spooked by the reversal in the Nikkei 225, the 2nd-largest reversal from a high in 30 years, next to one from May 2013.
Other large reversals have led to some questionable returns going forward.
The curiosities in equities continues. There are just a lot of developments that we rarely see. Like assets in SPY declining even while the fund itself keeps hitting new highs.
And on Wednesday, there were more 52-week lows in small-cap stocks than there were 52-week highs. That's not normal behavior.