Another day light on economic news US equity markets had a mixed session, with Apple’s -3.15% loss the main attention grabber. Our benchmark S&P 500 spent the day in a relatively narrow trading range between its -0.42% early morning low to its 0.24% high shortly before the final hour. It ended the session with a modest 0.15% gain, which snapped a four-day selloff.

The yield on the 10-year note closed at 2.32%, down 4 bps from yesterday’s close.

Here is a snapshot of past five sessions.

Here is a daily chart of the SPY ETF, which gives a better sense of investor participation than the underlying index. Volume was exceptionally light.

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.