The S&P 500 opened fractionally lower and sold off in a couple of waves to its -1.39% intraday low early in the final hour of trading. Some buying near the close trimmed the loss to -1.01% for the day. The index closed out the month with a respectable 0.85% gain.
Today the yield on the 10-year Note closed at 2.05%, up 11 bps from the end of March.
Here is a 15-minute chart of the past five sessions.
On a daily chart of the index, we see that it ended the month below its 50-day moving average. Volume over the past two sessions has moved higher.
A Perspective on Drawdowns
Here's a snapshot of selloffs since the 2009 trough.
For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.
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