Recent March Turning Points

In the last few years, the month of March has seen more than its fair share of market turning points. The big closing low from four years ago came on March 9th, 2009. The intra-day low, when the S&P 500 got to 666, came on the previous Friday, March 6th.

Nine years before that, the S&P 500’s closing high came on March 24, 2000 at 1,527.46. The intra-day high was the same day at 1,552.87. The Nasdaq, however, which greatly defined the bull market, hit its peak two weeks earlier, on March 10, 2000 when it closed at 5,048.62. So our lost decade was actually one day shy of nine years.

March 2003 also got into the act. The market technically hit its low in October 2002, but the rally off the low lost its steam and fell again until the second bottom in March 2003. The S&P 500’s closing low was 800.73 on March 11th, and the intra-day low was 788.90 on March 12th.

Posted by Eddy Elfenbein on March 4th, 2013 at 2:03 pm

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