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S&P 500 Snapshot: Day Six

ByDoug Short
Published 09/11/2013, 01:30 PM
Updated 07/09/2023, 06:31 AM

Like Monday the S&P 500 yesterday opened at its intraday low and made its biggest advance in the first two minutes. It reached its morning high shortly before 11 AM and then traded in a fairly narrow range for the remainder of the session. A small surge in the final minutes set a 0.74% intraday high with the close fractionally lower at 0.73%. This was day six of the September rally, with the index up 3.12% for the month so far, the longest rally since the eight-day rally in early July. The popular financial press attributes the latest gains to relief that the odds of a US attack on Syria are fading.

The yield on the 10-year note closed at 2.96%, up 6 bps from Monday's close and 2 bps off its interim closing high last Thursday.

Here's a 10-minute look at the week so far.
S&P 500: 10 Minute
Participation in yesterday's rally was better than Monday with the volume above its 50-day moving average.
S&P 500: Daily
The SPY ETF, which gives a better sense of trader mentality, was saw better volume than yesterday, although it remains a tad below its 50-day moving average.
SPY ETF
The S&P 500 is now up 18.08% for 2013 and 1.50% below the all-time closing high of August 2.
S&P 500: Closes Since Oct. 2007
S&P 500: Closes Since Oct. 2007 With MAs
For a better sense of how these declines figure into a larger historical context, here's a long-term view of secular bull and bear markets in the S&P Composite since 1871.

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