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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (70517)2/22/2001 4:59:46 PM
From: Cynic 2005  Read Replies (1) of 436258
 
At the height of the sell off in 1998, the lowest close for S&P was some -18.x% from the absolute intra-day peak! Today, S&P cash closed at -19.33% from intra-day peak set in early 2000. The technical definition of bear market - two or more indices are down more than 20% from the peak!The magic number for -20% drop or more is 1242.5. It was successfully tested today. There will be very tough fight at this level. If 1242 is taken out decisively tomorrow.... as I always say, LIGHTS OFF!
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