In the absence of economic news, earning reports grabbed most of the headlines, and they weren't enough to inspire a continuation of the Monday rally. The S&P 500 spiked to its 0.44% intraday high in the third minute of trading. Ten minutes later it had cut two-thirds of the opening gain. The index then trended lower to its mid-afternoon -0.29% low. It closed with a trimmed loss of -0.15%.
Today the yield on the 10-year Note closed at 1.92%, up two bps from the previous close.
Here is a 15-minute chart of the past five sessions.
Here is a daily snapshot of the ARCA:SPY ETF, which gives a sense of investor participation in today's trade. Volume was well off the 50-day moving average.
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.
