Courtesy of Doug Short.
The S&P 500 hits its -0.14% intraday in the opening seconds. But the 10 AM announcement of disappointing existing home sales and a weaker than forecast reading from the Philly Fed index put the index in modest rally mode. It then trended sideways with a pop to its 0.40% intraday high twenty minutes before the close trimmed closing gain of 0.23%. Today’s advance was the 10th record close of the year.
The official yield on the 10-year note closed at 2.19%, down seven bps from the previous close.
Here is a 15-minute chart of the past five sessions.
Here is a daily chart of the SPY ETF, which gives a better sense of investor participation (or lack thereof). Today’s volume was the second lowest of 2015.
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.
