On a day of light economic news, the S&P 500 managed to recover most of its -1.03% post-Memorial Day selloff. The index surged at the opening bell, vacillated at the 30 minute mark and then rose at a slower but steady pace to the final hour. At its 1.05% intraday high eight minutes before the final bell, the index was fractionally above Friday's close. But some last minute selling trimmed the closing gain to 0.92%, the best performance in eight sessions and only 0.12% below Friday's close.
The closing yield on the US 10 Year T-Note was unchanged at 2.14%.
Here is a 15-minute chart of the past five sessions.
Volume on the SPDR S&P 500 (ARCA:SPY), which generally gives a better sense of investor participation than the underlying index, remained a bit light on today's recovery rally.
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.
