Courtesy of Doug Short.
US markets started the week with big rally in advance of the 2-day FOMC meeting that starts on Tuesday and culminates in Fed chair Yellen’s press conference at 2:30 PM ET on Wednesday. The S&P 500 surged in the opening minutes and the drifted higher through the day, closing with a 1.35% gain. That was the fourth largest gain of 2015 and the biggest percentage advance since the 1.43% gain on February 3rd.
West Texas Crude spent the day hovering in the $43 per barrel range.
Here is a 15-minute chart of the last five sessions.
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.
