Courtesy of Doug Short.
The S&P 500 dipped at the open, quickly recovered to the flat line and then rose to its 0.15% intraday high in the late morning. During the lunch hour the index began a steady selloff to its -0.61% close, which was also the intraday low. Today’s decline was accompanied by relatively little change in the Dollar Index, up 0.11%, and West Texas Crude Spot Price was up 0.04% as I type this.
The yield on the 10-year Note fell three bps to close at 1.88%.
Here is a 15-minute chart of the past five sessions.
Here is a daily chart of the SPY ETF, where trading volume remained near its 2015 low set yesterday.
A Perspective on Drawdowns
Here’s a snapshot of selloffs since the 2009 trough.
For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.
