Market Recap For 17th July 2014 – Worst day in 3 months – Here’s why…

By Markus Heitkoetter

Stocks had their biggest drop in 3 months.

First reports that a Malaysian Airlines jet was shot down in Ukraine sent stocks lower. Then after regaining some of the morning losses, stocks were sent lower once again on reports that Israel was sending troops into Gaza.

At the end of the day stocks were trading near session lows and the S&P ended the day down 23 points. The DOW had triple digit losses, down 161 points.

With markets lower the VIX or “Fear Index” shot higher, up +32%. In one day the VIX is trading back at levels not seen since April.

United Health Group (UNH) was one stock that bucked the general trend after reporting positive earnings. With the move higher UNH traded through a Power Crossover Method Average Daily Range Profit Target today. UNH ended the day up +1.61%.

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