S&P 500 Snapshot: No Follow-up On Wednesday's Rally
Doug Short | Nov 20, 2015 05:42AM ET
The rally we saw in US equity indexes on Wednesday didn't spill over into Thursday's action. The Benchmark S&P 500 spent the session in an extremely narrow trading range -- only 0.38% between its intraday low and high, the fourth narrowest trading range of 2015. It ended the session with a fractional loss of -0.11%
The yield on the 10-year note closed at 2.24%, down 3 bps from Wednesday's close.
Here is a snapshot of past five sessions.
Here is a daily chart of the index. Trading volume was on the light side. The index remains above its 200-day price moving average.
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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