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S&P 500 Snapshot: A Modest Bounce after the Worst Decline Since February of 2014

June 30, 2015

by Doug Short

The financial crisis in Greece continues to grind its way toward default, but today the markets took a breather after yesterday's selloff, which was the worst in the S&P 500 since early February of last year. The index opened higher and rallied to its 0.81% intraday high in the afternoon. But most of the gain evaporated in afternoon selling. It closed with a modest 0.27% gain for the day. The month of June pegged a loss of 2.10%.

The yield on the 10-year note closed today at 2.35%, 2 bps above yesterday's close.

Here is a 15-minute chart of the past five sessions.

S&P 500

Here is a monthly chart of the index. It closed out June are mere 9 points above its 10-month moving average.

S&P 500

A Perspective on Drawdowns

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

S&P 500 Drawdowns

For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.

S&P 500 Snapshot