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Fundranker Blog—Topsy-Turvy August

Topsy-Turvy August

The S&P 500 Index (as measured by Fidelity’s Spartan 500 Index - Investor Class Fund) and the Nasdaq Composite Index (as measured by Fidelity’s Nasdaq Composite Index Fund) spent the first seven trading days of August in the black for August, in the black for 2010 YTD, and out of correction territory, that is, less than 10% down from their April 23 bull market highs.

Since then, through August 18, the S&P 500 Index and the Nasdaq Composite Index both fell back into negative territory for August and for 2010 YTD. The S&P 500 Index moved back in and back out of correction territory, while the Nasdaq Composite Index moved back into correction territory and stayed there.

During the first seven trading days of August, Fundranker’s Top Eight Model Portfolio also rose into positive territory for both August and 2010 YTD, but it never quite emerged from correction territory. Since then, through August 18, it fell back into the red for August and 2010 YTD, along with the indexes, and further into correction territory.

Mid-day on Thursday, August 19, as this entry was posted, the S&P 500 and Nasdaq Composite Indexes were down about 2%, reversing three positive days that began the week.

Posted 8/19/10 12:44pm ET in Fundranker, Market