"Yo-yo" Market!

It’s a dog’s life –trading since start of 2022 is not the most pleasant, with many “yo-yo” price action

To be more accurate, it'd be “reverse yo-yo” as it swung up sharply one day before swinging sharply lower the next day, from May 4 to 5. But then, that’s two words. So, “Yo-yo” Market it is!

Using $S&P 500(.SPX)$ as the proxy for the Market (see table below), its:

• Gain of +124.69 points on May 4, the 9th largest one day points gain on record since the Index started in 1957.
• Loss of –153.3 points on May 5 (following day), the 6th largest one day points loss on record!

SPX largest daily point gains and losses. source: wikipedia

More “yo-yo” price action happened throughout the week of May 2 to 6. Price yo-yo-ed up and down in large swings, from intraday high of 4307.66 to low of 4062.51, that's 245.15 points (5.95%, closed to 6%). See SPX hourly chart below.

Hourly chart of SPX for week of May 2 to 6 –see Intraday High and Low for the week

Tigers who are Star Wars fans might be familiar with the meme “May the 4th (Force) be with you”. Well, as Yoda would say about the price movements on May 4th, “The 4th (Force) is Strong with this one!

Yoda speak

@TigerStars