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The eurozone started the week on a subdued note, where the EURO STOXX 50 lost 0.48%. There was no US economic news to influence the market, premarket or otherwise, the S&P 500 opened higher, bounced a couple of times near the opening price and then traded to its mid-afternoon intraday high, up 0.33%. The index drifted lower in the final ninety minutes of trading and closed the day with a trimmed gain of 0.19%. But since Friday was an all-time high, any closing gain yesterday was destined to set a new all-time high.

Monday's trading range of 5.56 points was the fourth narrowest of 2013.

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Monday's relatively narrow trading range was on light volume, 12% below the 50-day moving average.

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The S&P 500 is now up 13.41% for 2013.

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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.

Source: S&P 500 Snapshot: Another All-Time High