Courtesy of Doug Short.
This morning’s strong Durable Goods report set the stage for a continuation of the holiday rally. The S&P 500 opened fractionally above yesterday’s close and rose steadily to it modest intraday high at the closing bell, up 0.29%. The 0.29% intraday range in today’s abbreviated trading day was the second smallest of the year … second to the March 7th range of 0.28%.
As I type this, the U.S. Treasury hasn’t yet posted the official closing yield on the 10-year note, but the 10-year note yield index puts it at 2.98%, which matches the interim high on September 5th.
Here is a 5-minute look at the week so far.
The S&P 500 is now up 28.55% for 2013.
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.
