S&P 500 Snapshot: Second Best Gain Of 2013

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Includes: BXDB, BXUB, BXUC, EPS, IVV, RSP, RWL, SDS, SFLA, SH, SPXU, SPY, SSO, UPRO, VOO
by: Doug Short

The US indexes were up sharply Tuesday. The benchmark S&P 500 rose 0.89% in the first 10 minutes of trading, faded a bit and then renewed its rally to the early afternoon. After another gradual fade, the final hour steroids kicked in, and the index closed with a gain of 1.43%. That was the best close since the 2.54% surge on January 2013, the first market day of the year.

Here is a 10-minute look at the week so far.

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Here is a daily chart that includes the volume and its 50-day moving average. Monday's selloff was on high volume, exceeded in 2013 only once, the March triple witching day. Tuesday's partial recovery volume was 2% above the 50-day moving average.

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The S&P 500 is now up 10.40% for 2013 and 1.18% below the all-time closing high of April 11th.

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For a better sense of how these declines figure into a larger historical context, here's a long-term view of secular bull and bear markets in the S&P Composite since 1871.