From Jill Mislinski: The S&P opened Friday above its previous close and hit its intraday high within a couple of hours. The index closed the day with a 0.17% gain from Thursday and 0.72% gain from the previous Friday.

The U.S. Treasury puts the closing yield on the 10-year note at 2.17%.

Here is a daily chart of the S&P 500. Today’s selling puts the volume 22% below its 50-day moving average.

Here’s a monthly snapshot of the index going back to December 2007.

A Perspective on Drawdowns

Here’s a snapshot of record highs and selloffs since the 2009 trough.

Here is a more conventional log-scale chart with drawdowns highlighted.

Here is a linear scale version of the same chart with the 50- and 200-day moving averages.

A Perspective on Volatility

For a sense of the correlation between the closing price and intraday volatility, the chart below overlays the S&P 500 since 2007 with the intraday price range. We’ve also included a 20-day moving average to help identify trends in volatility.

The SPDR S&P 500 ETF Trust (NYSE:SPY) closed at $244.56 on Friday, up $0.57 (+0.23%). Year-to-date, SPY has gained 10.42%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 118 ETFs in the Large Cap Blend ETFs category.

This article is brought to you courtesy of Advisor Perspectives.

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