This article was originally written by Doug Short. From 2016-2022, it was improved upon and updated by Jill Mislinski. Starting in January 2023, AP Charts pages will be maintained by Jennifer Nash at Advisor Perspectives/VettaFi.
The S&P 500 posted gains for the second straight week after finishing Friday up 0.6%. The index had a mid-week dip but was able to finish up 1.4% from last week. The index is currently up 3.42% YTD and is 17.21% below its record close from January 3, 2022.
The U.S. Treasury put the closing yield on the 10-year note, as of March 24, at 3.38% which is above its record low (0.52% on 8/4/2020). The 2-year note is at its lowest level of the year at 3.76%. See our latest Treasury Snapshot here.
Here's a snapshot of the index going back to 2013.
A perspective on drawdowns
Here's a snapshot of record highs and selloffs since the 2009 trough. Note the recent selloffs in 2022.
Here's a table with the number of days of a 1% or greater change in either direction and the number of days of corrections (down 10% or more from the record high) going back to 2013.
Here is a more conventional log-scale chart with drawdowns highlighted:
Here is a linearly scaled 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. I've also included a 20-day moving average to identify trends in volatility.
ETFs associated with the S&P 500 include: iShares Core S&P 500 ETF (IVV), SPDR S&P 500 ETF Trust (SPY), Vanguard S&P 500 ETF (VOO), and SPDR Portfolio S&P 500 ETF (SPLG).
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