From Jill Mislinski: On Tuesday, S&P 500 opened at its daily high and proceeded to tumble throughout the day, ending the selloff with a 1.24% loss, its largest since October.

The U.S. Treasury puts the closing yield on the 10-year note at 2.43%.

Here is a daily chart of the S&P 500. Today’s selloff puts the volume 9% above its 50-day moving average.

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.

Today, futures are largely mixed. On the ETF side of things, the iShares S&P 500 Index ETF (NYSE:IVV) rose $0.08 (+0.03%) in premarket trading Wednesday. Year-to-date, the second largest exchange traded fund tied to the S&P 500 has gained 5.01%.

IVV currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #2 of 107 ETFs in the Large Cap Blend ETFs category.

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This article is brought to you courtesy of Advisor Perspectives.

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