S&P 500 Snapshot: Gaming The 2000 Level
Doug Short | Aug 27, 2014 05:00PM ET
Today was light on economic news, and global tensions were little changed. The S&P 500 traded in a narrow range from its intraday high-low range of 0.11% and -0.19%. As we can see in the chart below, today was mostly about gaming the benchmark 2000 level, and no doubt that game was mostly executed by trading bots. Technically the index ended the day with a record close, up 0.10 points, which only registers a percent gain at three decimals: 0.005%.
Will 2000 remain the focus as we approach Labor Day weekend? Stay tuned!
The yield on the 10-year Note closed at 2.37%, down 2 bps 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. Volume hit a new low for the year, the lowest since the 1 PM close on Christmas Eve of last year.
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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