S&P 500 Snapshot: Fourth Consecutive Weekly Gain | ETF Trends

The S&P 500 posted its fourth consecutive weekly gain after notching a new all-time high this week. The index is currently up 11.82% year to date and has recorded a new all-time high 23 times this year.

The table below summarizes the number of record highs reached each year dating back to 2008.

No. of Record High Days

Here is a snapshot of the index over the past 5 days:

SPX Five Day

Here is a snapshot of the index from the past six months with a 50-day moving average:

SPX - 2

The U.S. Treasury put the closing yield on the 10-year note, as of May 17th, at 4.42% which is above its record low (0.52% on 8/4/2020). The 2-year note is at 4.83%. ETFs associated with Treasuries include: iShares 1-3 Year Treasury Bond ETF (SHY)iShares 7-10 Year Treasury Bond ETF (IEF), and iShares 20+ Year Treasury Bond ETF (TLT). See our latest Treasury Snapshot here.

S&P 500: A Perspective on Drawdowns

On October 9, 2007 the S&P 500 reached a then all-time high, closing the day at 1565.15. Then on March 9, 2009, the index dropped ~57% off of its high from exactly 17 months before, closing the day at 676.53. This time period became known as the Global Financial Crisis. It took over 5 years before the index reached a new then all-time high on March 28, 2013, where it closed out at 1569.19. The chart below is a snapshot of record highs and selloffs since the 2007 peak reached on October 9, 2007.

SPX Drawdowns since Oct. 9 2007

What happens if we take out the Global Financial Crisis? Here’s a snapshot the same chart above where the start date has been changed to the trough reached on March 9, 2009. Note the recent selloffs in 2022.

SPX Drawdowns since March 9, 2009

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

Up Down 1 Percent

SP No. Days of Corrections as of today

Here is a linear chart of the index since October 9, 2007:

SPX Snapshot Daily closes from Oct. 9, 2007 - Present

Here is a linearly scaled version of the same chart with the 50- and 200-day moving averages. As of November 3rd, the index has been above both its 200-day moving average. As of May 6th, the index has been above its 50-day moving average.

SPX Snapshot MAs

S&P 500: 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. I’ve also included a 20-day moving average to identify trends in volatility.

SPX Volatility Since 2007

S&P 500 versus S&P Equal Weight

The S&P 500 is market cap-weighted index which includes roughly the 500 largest U.S. stocks spanning 11 sectors. The S&P 500 Equal Weight Index includes the same constituents as the S&P 500 but each company is equally weighted at a fixed weight. So how do these two indexes match up against each other this year?

The S&P 500 is currently up 11.82% year to date while the S&P Equal Weight is up 6.24% year to date.

SPX Snapshot Equal Weight Comparison

ETFs associated with the S&P 500 include: iShares Core S&P 500 ETF (IVV)SPDR S&P 500 ETF Trust (SPY)Vanguard S&P 500 ETF (VOO)SPDR Portfolio S&P 500 ETF (SPLG), and Invesco S&P 500® Equal Weight ETF (RSP).

For more news, information, and analysis, visit the Innovative ETFs Channel.