S&P 500 Snapshot: The Downtrend Continues

Our benchmark S&P 500 rose at the open, giving hope that the downtrend since the Monday advance would reverse directions. But such was not to be. The index quickly sold off to its morning low, rallied into the lunch hour, took a pause, and then sold off during the afternoon to its -0.32% intraday low shortly before the close. It ended the session with a 0.30% decline and its third consecutive loss.

The closing yield on the 10-year note jumped six basis points from its previous close to 1.85% ... quite a change rise from its historic closing low of 1.37% in early July.

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

S&P 500

Here's a daily chart of the index. The index has posted losses for five of the last six sessions with rising volume during those finishes in the red.

S&P 500