S&P 500 Snapshot: A Close Above 2000 ... Barely!
Doug Short | Aug 26, 2014 03:17PM ET
For today's S&P 500, the suspense was all about the 2000 benchmark. Would we close above that memorable mile stone, or would it be a ceiling? The index started the day in mild rally mode, rising above 2000 about a minute after the opening bell and hitting its modest 0.36% intraday high in the late morning. The index drifted lower in the afternoon and dropped fractionally below the 2000 level about one minute before the closing bell. But when the final tally was in, the S&P 500 ended the day at a record high of 2000.02.
The yield on the 10-year Note closed at 2.39%, unchanged from yesterday's close.
Here is a 15-minute chart of the past five sessions.
Here's a look at the SPDR S&P 500 (ARCA:SPY) ETF, where trading volume probably gives us a better sense of individual investor participation. Volume was stunningly low ... the lowest since Christmas Eve.
For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.
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