Another day light on economic news US equity markets had a mixed session, with Apple (O:AAPL)'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 N: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.
