S&P 500 Snapshot: A Fractional Gain
Doug Short | Nov 25, 2015 12:05AM ET
Pre-market futures reflected the global jitters following the exogenous shock of the Russian jet shot down by Turkey near the Syrian border. The S&P 500 sold off at the open despite the 8:30AM upward revision of Consumer Confidence report, the lowest reading in 15 months and an unwelcome bit of news at the threshold of the holiday spending season. The S&P 500 hit its -0.78% intraday low shortly after the bad Confidence report and then made a sharp reversal, trading to its 0.36% intraday high early in the final hour. The index closed with a fractional gain of 0.12%.
The yield on the 2-year note closed at 0.93%, down 1 bp from yesterday. The 10-year note also dropped 1 bp to close at 2.24%.
Here is a snapshot of past five sessions.
Here is a daily chart of the S&P 500. The intraday low was not far above its 200-day moving average. Volume was unremarkable.
A Perspective on Drawdowns
Here's a snapshot of selloffs since the 2009 trough.
For a longer-term perspective, here is a log-scale chart base on daily closes since the all-time high prior to the Great Recession.
Here is the same chart with the 50- and 200-day moving averages. The 50 crossed below the 200 on August 28th.
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