Courtesy of Doug Short.
With yesterday’s gaming of the FOMC statement and press conference behind us, the S&P 500 got back into the business of setting new highs. Today’s half-percent gain, 0.49% to be precise, set a record close just below its intraday high, which was also a record.
The yield on the 10-year Note closed at 2.63%, up bp from yesterday’s close. It is now 29 bps above its 2014 low.
Here is a daily chart of the index. Volume was close to its 50-day moving average.
Here is the SPY ETF. After yesterday’s Fed-triggered trading game, volume returned to the vicinity of its average.
For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.
