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Investing

Stock Market Takes Out October Lows (DIA, SPY, QQQQ)

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By Douglas A. McIntyre Updated Published
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Down_arrow_red_2There is a disturbing event happening, and it is one which if gets much worse will take out much of the feeling that the markets have bottomed out.  Today the market index readings are challenging the lows from mid-October.  Now the challenge comes to whether or not these hold the closing levels and the intra-day lows seen at the time as of 12:53 PM EST today.

S&P500    833.68    (-18.62; -2.18%)

  • S&P low close 848.92 (Oct. 27) & intra-day low 839.80 (Oct. 10)

DJIA    8,111.81 (-170.85; -2.06%)

  • DJIA low close was 8,175.77 (Oct. 27) & intra-day low was 7,773.71 (Oct. 10)

NASDAQ    1,451.90 (-47.31; -3.16%)

  • NASDAQ low close was 1,505.90 (Oct. 27) & intra-day low was 1,493.79 (Oct. 24)

DIAMONDS Trust ETF (NYSE: DIA), SPDRs (AMEX: SPY), and the PowerShares QQQ (NASDAQ: QQQQ) are the main ETFS’s which track these index levels, and all actually trailing in the volume severity sen with many such days.

JON C. OGG
NOVEMBER 13, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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