Does it feel like the stock market hasn't moved a whole lot this year? That has certainly been the case: The Dow Jones industrial average’s closing high for this year is just 6.7 percent above its closing low. Through the middle of August, that is the smallest range in the index’s entire history. The next-narrowest range through the middle of August was 7.7 percent, which happened in 1992.
The story is similar for the S&P 500 index. For the S&P, this year’s closing high is 6.9 percent above its closing low. That is the second-smallest such spread for the index, behind 1993, when the spread at this point of the year was 6.4 percent.
But even that understates the case. As long as the S&P 500 doesn’t set a new closing high or low this week, 2015 will become the smallest spread on record, since the index began a series of yearly highs in late August 1993.
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