S&P 500: Flat Finish To A Low-Volatility Session
Doug Short | Feb 12, 2015 01:06AM ET
The S&P 500 spent the morning yesterday in a relatively narrow range with Tuesday's closing price as a glass ceiling. It began selling off to its -0.51% intra-day low during the lunch hour and then slowly chugged to its 0.24% intra-day high in the final hour.
But the gain didn't hold, and the index ended flat to two decimal places. As for that intra-day range of 0.75%, it's the third smallest of the 28 sessions so far this year.
The yield on the 10-Year note closed at 2.00%, down one bp from Tuesday's close.
Here is a 15-minute chart of the last five sessions
Here is a daily chart of the index, which hold a fractional 0.47% year-to-date gain. Trading volume was unexceptional.
A Perspective on Drawdowns
Here's a snapshot of sell-offs since the 2009 trough. The S&P 500 is 1.05% off its record close on December 29th.
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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