And you thought the back and forth action in the Federer/Nadal Wimbledon match was a lot? On Monday, the S&P 500 started out higher, reversed sharply lower, clawed its way back to positive territory, only to close convincingly in the red. Putting the recent intraday moves into perspective, we calculated the 200-day average intraday high/low spread for the S&P 500 going back to 1983. Periods highlighted in red represent when the average was higher than the current level (1.62%), while blue periods indicate when it was below current levels. As shown in the chart, intraday volatility has not been this high in five years, and over the entire period, the average high/low spread has only been higher 18% of the time.
Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.