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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
S&P 500 Wraps Up The Week With 0.8% Gain, New All-Time Highs
From Jill Mislinski: On Friday, the S&P opened higher than it reached all week and began rising within the first few hours. The index reached its intraday high in early afternoon and ended the day with a gain of 0.36% Week over week, the index saw a gain of 0.81% ending Friday with another record close.
The U.S. Treasury puts the closing yield on the 10-year note at 2.41%, down 0.08 from the previous Friday’s close.
Here is a daily chart of the S&P 500. We can see that Friday’s close reached another all-time high.
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 $231.51 on Friday, up $0.91 (+0.39%). Year-to-date, SPY has gained 3.57%, versus a % rise in the benchmark S&P 500 index during the same period.
SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 108 ETFs in the Large Cap Blend ETFs category.
This article is brought to you courtesy of Advisor Perspectives.
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