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S&P 500 Wraps Up Yet Another Impressive Week Of Gains (SPY)

Tom Reese

From Jill Mislinski: The S&P 500 continued its climb this week, closing Friday with yet another all-time high. The index was up 0.67% from Thursday and 1.57% from last week.

S&P 500

The U.S. Treasury puts the closing yield on the 10-year note at 2.55%.

Here is a daily chart of the S&P 500. Today’s selling puts the volume 4% above its 50-day moving average.

S&P 500

Here’s a snapshot of the index going back to December 2008.

A Perspective on Drawdowns

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

S&P 500 Drawdowns

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

S&P 500 MAs

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

S&P 500 MAs

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 (SPY) closed at $277.92 on Friday, up $1.80 (+0.65%). Year-to-date, SPY has gained 4.14%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 141 ETFs in the Large Cap Blend ETFs category.

This article is brought to you courtesy of Advisor Perspectives.

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