Courtesy of Doug Short.
The S&P 500 dropped at the open, despite a good jobless claims report, and hit its -0.75% intraday low. A slow rally took the index to its 0.30% intraday high in the early afternoon. But subsequent selling pushed the index back into the red. It closed with a modest 0.24% decline, the forth consecutive daily loss.
The yield on the 10-year Note rose 8 bps to 2.01%.
Here is a 15-minute chart of the past five sessions.
Here is a daily chart of the index, where trading volume was right at its 50-day moving average.
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.
