The markets reacted to trade tariff news this week, falling to bring YTD gains to 14%. The index closed the week down 0.58% from Thursday and down 0.76% from last Friday.

(Click on image to enlarge)

The U.S. Treasury puts the closing yield on the 10-year note at 2.39%.

(Click on image to enlarge)

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

(Click on image to enlarge)

A Perspective on Drawdowns

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

(Click on image to enlarge)

Here's a table with the number of days of a 1% or more change in either direction and the number of days of corrections (down 10% or more from the record high) going back to 2013.

(Click on image to enlarge)

(Click on image to enlarge)

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

(Click on image to enlarge)

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

(Click on image to enlarge)

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.

(Click on image to enlarge)