The S&P 500 set an intraday high of 2,087.56 in the late morning. However it ended the holiday-shorted session with a bit of selling in the final two minutes. The index ended with a flat finish, down a hair (-0.01%) from yesterday's record close.

The yield on the 10-year Note closed at 2.27%, up 1 bp from yesterday's close.

Here is a 15-minute chart of the past five sessions.

A Perspective on Drawdowns

We're now five days off the record close in the S&P 500. Here's a snapshot of selloffs since the 2009 trough.

For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.