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Author "What is Chen Buying? What is Chen Selling?" Chen grew $5,400 to $2.3 million in 10 years. Learn More
Inside The S&P 500’s Largest One-Day Loss In Five Months
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.
This article is brought to you courtesy of Advisor Perspectives.
You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)
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