The US market is indeed in tenterhooks
DOW INDUSTRIALS
Highest: 26,616
Low on 8/2 : 23,860
Low recent on 23/3: 23,533
Last Close: 23,858
Distance from support of 23/3 low: 325 pts or 1.36%
To qualify as entering bear market (20% down from high): 21,293 (2565pts or 10.75% down)
S&P
Highest: 2,873
Low on 8/2 : 2,581
Low recent on 23/3: 2,588
Last Close: 2,613
Distance from support of 8/2 low: 32 pts or 1.22%
To qualify as entering bear market (20% down from high): 2,298 (315 pts or 12.0% down)
Nasdaq
Highest: 7,131
Low on 8/2 : 6,306
Low recent on 23/3: 6,508
Last Close: 6,530
Distance from support of 8/2 low: 224 pts or 3.43%
To qualify as entering bear market (20% down from high): 5,705 (825 pts or 12.6% down)
Disney, GE, Home Depot, 3M, Procter & Gamble, United Technologies, Verizon, Walmart and ExxonMobil all set new year-to-date lows Friday, with GE and Walmart in definitive bear market territory.
The picture is so dire that only five of the big stocks have managed to stay out of correction, including Apple, Cisco, Intel, Nike and Visa
Opinion
Market yet to bottom out. Likely test of all recent indices low with Nasdaq likely to take the bigger brunt
Unlikely to enter bear market at this point, more likely in 12-24 months or at worst the earliest Oct-Nov18
Expand
