The week in charts.
By Doug Short, Advisor Perspectives:
The NASDAQ was the attention-grabber today, up 4.25% for the week and closing at a record high. Our benchmark S&P 500 was relatively sedate by comparison. It opened with some minor options-expiration volatility and then spent the day in a narrow range between its 0.22% to -0.21% intraday high-low range. The index ended the day with a fractional 0.11% gain but a substantial 2.41% advance for the week.
Here is a snapshot of the last five sessions.
The weekly chart shows us that the index has been hovering near its record level since mid-February. Volume for the week was 7% above its 10-week moving average, but a chunk of that is attributable to the options trade.
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.
By Doug Short, Advisor Perspectives.
Would you like to be notified via email when WOLF STREET publishes a new article? Sign up here.