NEW YORK (TheStreet) -- The stock market on Monday was marked by a day of volatility. All four indexes were down the majority of the trading day only to find buyers come in at the lunchtime hour and turn the averages green.
By the end of the day, the DJIA was up 22.02 points to close at 16982.59 after being down nearly 100 points at its low. The S&P 500 was flat on the trading day at 1978.91 while the Nasdaq was lower by 4.65 at 4444.91. The Russell 2000 was down 5.22 points to 1139.50 and is now down over 2% for the year to date.
The S&P 500 Trust Series ETF (SPY) volume came in at over 69 million shares. Early on the volume was greater than normal, but as the day wore on the volume slowed considerably.
It should be noted that this is the first week since March-April there is a net long position in the S&P index and e-Mini futures. Thus the U.S. stock market divergences continue to be the story in 2014.
The Russell 2000 was down last week another 0.6% and is now down over 2% for the year to date versus the S&P, which was flat last week and up 7% YTD.
The Select Sector Utilities ETF (XLU) was up 1.4% on the day and is now up 14% YTD. Would you rather be long the Russell 2000 YTD or the XLU?