Courtesy of Doug Short: Before the opening bell we learned that Q3 GDP came in at 2.8%, the its highest compounded annual rate of change in six quarters. The markets weren’t impressed. The S&P 500 opened higher, hitting its 0.23% intraday high in the first fifteen minutes of trading. The index then sold off in in a pair of waves to close the day with a loss of 1.32%, the biggest decline since late August. Bloomberg speculated that the unexpected expansion in GDP could prompt the Fed to start tapering — the old “good news is bad news” meme. Was today a warm-up for tomorrow’s employment report?

Here is a 15-minute look at the week so far.

Volume today was 17% above its 50-day moving average.

The S&P 500 is now up 22.50% for 2013 and 1.40% below the all-time closing high of October 29.

For a better sense of how these declines figure into a larger historical context, here’s a long-term view of secular bull and bear markets in the S&P Composite since 1871.

- Phil

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Philip R. Davis is a founder of Phil's Stock World (www.philstockworld.com), a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders. Mr. Davis is a serial entrepreneur, having founded software company Accu-Title, a real estate title insurance software solution, and is also the President of the Delphi Consulting Corp., an M&A consulting firm that helps large and small companies obtain funding and close deals. He was also the founder of Accu-Search, a property data corporation that was sold to DataTrace in 2004 and Personality Plus, a precursor to eHarmony.com. Phil was a former editor of a UMass/Amherst humor magazine and it shows in his writing -- which is filled with colorful commentary along with very specific ideas on stock option purchases (Phil rarely holds actual stocks). Visit: Phil's Stock World (www.philstockworld.com)

© 2013 Copyright PhilStockWorld - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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