Today’s holiday-shortened ended the three-day rally in the S&P 500. The index opened fractionally lower and sold off to its -0.27% intraday low in the first 40 minutes of trading. It then slowly trended higher to its 0.15% intraday high in the final minutes. But selling at the close took the index down to its -0.16% pre-Christmas loss. It’s now in the green by only 0.10%. Will the 500 finish the year with a gain? Stay Tuned!

The yield on the 10-year note closed at 2.25%, down 2 bps from yesterday’s close.

Here is a snapshot of past five sessions.

Here is a daily chart. The index has stalled in the vacinity of the 50-200 moving average crossover.

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.

Print Friendly, PDF & Email