S&P 500 Snapshot: A Modest Gain to Its Year-To-Date High

The S&P 500 posted a modest gain, but it was enough to set a 2016 closing high and one that put the index fractionally above the 2100 level. The index rallied at the open to its 0.46% intraday high about 40 minutes later. It then sold off to its -0.13% lunch-hour low. A more subdued rally in the afternoon lifted the index to its 0.31% close and a 2.78% year-to-date gain. It's only 1.41% below its record closing high about 11 months ago on May 21.

The yield on the 10-year note closed at 1.79%, up one basis point from the previous close.

Here is a snapshot of past five sessions in the S&P 500.

Here is a daily chart of the index, Volume increased over the Monday session but remain a bit light.

A Perspective on Drawdowns

Here's a snapshot of 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.