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Inside the S&P 500’s Second Consecutive Monthly Loss

Saturday, October 1, 2016 6:09
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Closer LookFrom Doug Short: Deutsche Bank shares rebounded Friday, and the US equity markets followed suit. The S&P 500 open at its 0.25% intraday low and rallied through the session to its 1.12% intraday high early in the final hour.

Some selling shortly before the closing bell trimmed the Friday gain to 0.80%. The index finished the week with a fractional gain of 0.17%, but the month of September closed with a fractional loss of 0.12% — the second consecutive 0.12% monthly decline.

The yield on the 10-year note closed at 1.60%, up four basis points from the previous close but down two BPs from the previous weekly close.

Here is a snapshot of past five sessions in the S&P 500.

S&P 500

Here is daily chart of the index. Today’s trading volume at the close of the week, month and quarter was on the high side for a non-options expiration session. Note that the selling in the final minutes put the price squarely on its 50-day moving average as we prepare for October.

S&P 500

A Perspective on Drawdowns

Here’s a snapshot of selloffs since the 2009 trough.

S&P 500 Drawdowns

Here is a more conventional log-scale chart with drawdowns highlighted.

S&P 500 MAs

Here is a linear scale version of the same chart with the 50- and 200-day moving averages.

S&P 500 MAs

A Perspective on Volatility

For a sense of the correlation between the closing price and intraday volatility, the chart below overlays the S&P 500 since 2007 with the intraday price range. We’ve also included a 20-day moving average to help identify trends in volatility.

S&P 500 Snapshot

This article is brought to you courtesy of Advisor Perspectives.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (

Related posts:

  1. Inside the Choppy Market Action Ahead of the Fed Meeting
  2. Is the Fed Rally Already Over?
  3. Can Anything Stop the S&P 500’s Fed-Fueled Rally Now?
  4. Stocks Look Vulnerable, but No Reason to Panic Yet
  5. S&P 500 History Suggests More Selling Could Come Soon


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