Courtesy of Doug Short.
Asia-Pacific indexes had a mixed day with the Shanghai Composite up 0.44% Nikkei down 0.85%. European indexes fared better — the EURO STOXX 50 rising 1.39%. The S&P 500’s 0.41% gain didn’t match the European enthusiasm, but it extended its rally to six days, the longest since its 7-day advance in early September of last year. Year-to-date the index is up 1.69% and only 0.60% below its record close on April 2nd.
The yield on the 10-year note finished at 2.73%, unchanged for the three sessions and 13 bps off the 2014 low of 2.60%.
Here is a snapshot of the past five sessions.
Here is a daily chart of the SPY ETF with today’s volume highlighted. It remains quite light although a bit above yesterday’s thin participation.
Here is a longer perspective, starting with the all-time high prior to the Great Recession.
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.
