S&P 500 is Less Than 1% From A Bear Market

Bear Market

From Tyler Durden: The longest bull market in history – as measured by the S&P 500 – is now less than 1% from ending, with the drawdown from the Sept 21 highs now just above 19%…2352.7 is the magic number.

Of course, The Russell 2000 (-27%), Nasdaq (-22%), and Transports (-25%) are already deep in bear market territory.

Expect more tweets from the administration once the S&P officially drops 20%, and more speculation that Powell’s tenure is about to end.

The SPDR S&P 500 ETF Trust (SPY) was trading at $235.55 per share on Monday afternoon, down $5.15 (-2.14%). Year-to-date, SPY has declined -11.38%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 152 ETFs in the Large Cap Blend ETFs category.

This article is brought to you courtesy of ZeroHedge.