Trading in Eurozone indexes was subdued today in advance of tomorrow's vote by the Greek parliament on the latest conditions for a financial bailout. The S&P 500 was followed suite, trading in a relatively narrow range from its 0.25% morning high to its -0.31% afternoon. How narrow? It was at the 18th percentile of the 134 market days so far in 2015. Fed Chair Yellen's congressional testimony was ignored by the market. The index closed with a -0.07% loss, snapping its four-day rally. Here is a 15-minute chart of the past five sessions. The brief selloff in the afternoon coincided with news of rioting in Greece.
The index remains slightly above its 50-day price moving average. Today's trade was on unremarkable volume.
A Perspective on Drawdowns
Here's a snapshot of selloffs since the 2009 trough.
For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.
