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Thursday, March 28, 2024

S&P 500 Snapshot: Down 1.01% for the Day, But Up 0.85% for the Month

Courtesy of Doug Short.

The S&P 500 opened fractionally lower and sold off in a couple of waves to its -1.39% intraday low early in the final hour of trading. Some buying near the close trimmed the loss to -1.01% for the day. The index closed out the month with a respectable 0.85% gain.

Today the yield on the 10-year Note closed at 2.05%, up 11 bps from the end of March.

Here is a 15-minute chart of the past five sessions.

On a daily chart of the index, we see that it ended the month below its 50-day moving average. Volume over the past two sessions has moved higher.

A Perspective on Drawdowns

Here’s a snapshot of selloffs since the 2009 trough.

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Click for a larger image

For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.

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Click for a larger image

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