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10%+ corrections in the S&P500

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@ SonnysMoney we focus mainly on credit spreads in the SPX (s&P500). It is important to know everything one can about how this index trades and its history. Interesting chart I found from the stock trader’s almanac, detailing every 10%+ corrections in the sp500 the last 50+ years.

There has been one each of the last 6 years starting in 07. 2008 there were 7 such corrections!!!

Currently the S&P 500’s 200 day simple Moving average sits right @ 1416. It is currently 9% above its 200 day. If a 10% correction happens, it will take it right at 1400 and probably below it.

Something to keep in mind!!

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One response to “10%+ corrections in the S&P500

  1. i’m thinking next week, we see a temporary top, but my downside target minimum is 1500, followed by 1475.

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