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The Tell: The stock-market correction may be only half over, if history is any guide

The S&P 500 is off its 2018 low, but it has yet to return to the record territory it explored through much of January. And if history is any indication, investors might have several more weeks to wait.

According to the WSJ Market Data Group, the S&P 500 SPX, +0.38% has been in correction territory—defined as a 10% drop from a peak, in this case a record high hit on Jan. 26—for 26 trading days, including Friday’s session. This puts it roughly halfway through the duration of such drawdowns.

While a full recovery would mean hitting new highs, the S&P would exit the correction if it rises to roughly 2,840, or a 10% gain from its February closing low.

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