S&P 500 Wraps Up The Week With A Small Fed-Fueled Gain

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March 18, 2017 7:06am NYSE:SPY


From Jill Mislinski: Following Wednesday’s Fed hike announcement, the S&P shot up over the next few hours until its close. Thursday’s index dropped after its open and oscillated within a smaller range. It opened Friday within that same range and closed the week with a 0.24% gain week over week and a 0.13% loss from Thursday.

S&P 500

The U.S. Treasury puts the closing yield on the 10-year note at 2.50%, up from the previous Friday’s close.

Here is a daily chart of the S&P 500. We can see that Friday’s close reached another all-time high.

S&P 500

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 (NYSE:SPY) closed at $237.03 on Friday, down $-1.45 (-0.61%). Year-to-date, SPY has gained 6.04%, versus a % rise in the benchmark S&P 500 index during the same period.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 107 ETFs in the Large Cap Blend ETFs category.

This article is brought to you courtesy of Advisor Perspectives.

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