S&P 500: Mild Loss Before Final Trading Day Of 2014

Published 12/31/2014, 02:52 AM

European indexes had a relatively bad day yesterday, with the EURO STOXX 50 closing with a loss of -1.55%. US indexes also saw declines but to a lesser degree. The S&P 500 opened at its -0.10% intraday high and sold off to its -0.53% mid-afternoon intraday low. It closed fractionally higher with a -0.49% loss for the day. With one day left in 2014, the index is up 12.55% for the year. Will it close out the year today at a record high as it did in 2013? Stay tuned!

The yield on the U.S. 10-Year Note closed at 2.20%, down 2 bps from Monday's close.

Here is a daily chart of the index. Volume remains seasonably light.

SPX Daily

A Perspective on Drawdowns

We're now five days off the record close in the S&P 500. Here's a snapshot of sell-offs since the 2009 trough.

S&P 500 % Off High since March 2009
For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.

S&P 500 Current Market Snapshot 2007-Present

S&P 500 Snapshot with MAs

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