The Tell: The stock market is days away from setting a bearish record

The U.S. stock market is a few days from hitting a notable milestone, but it isn’t one that investors will feel particularly good about.

Both the Dow Jones Industrial Average DJIA, +0.41% and the S&P 500 SPX, +0.62% have been mired in correction territory for months, ever since Feb. 8, when concerns that inflation was returning to the economy sparked a selloff that led to their dropping 10% from record levels hit earlier in the year.

Amid months of rangebound trading, neither index has been able to fully recover and notch new records, which is what would be needed for them to exit correction territory (the Nasdaq Composite Index COMP, +0.79% , which never officially corrected, hit a record earlier this month).

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