The March jobs report came in worse than expected, and the market opened an hour later with a selloff. The S&P 500 hit its intraday low, off 1.31 percent, in the first thirty minutes of trading. But the remainder of the day was a determined struggle higher. By the end of the session, the index had trimmed its loss to 0.43 percent. For the week, the S&P 500 fell 1.01 percent. This was only the third negative weekly close of 2013, but it was the worst week since the 1.94 percent plunge at the end of last year.
Here is a 15-minute look at the week:
The S&P 500 is now up 8.91 percent for 2013 and 1.08 percent below the all-time closing high on Tuesday.
From a longer-term perspective, the index is 129.60 percent above the March 2009 closing low:
Here’s the trend lines…
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.
Doug Short Ph.d is the author of dshort at Advisor Perspectives.
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