S&P 500 Drops to Eight-Month Low

The bearish action isn’t letting up today. This morning, the S&P 500 got as low as 2,583.23. On an intra-day level, that’s the market’s lowest point since April 4. There’s a good chance we can close below the previous “correction” low of 2,632.56 from November 23.

Cyclical stocks are especially unhappy today. Financials, Industrials and Energy all hit new 52-week lows this morning. S&P 500 Growth is losing to S&P 500 Value by more than 100 basis points. I suspect that’s because so many financials have been reclassified as value.

New lows are leading new highs 93-0.

Posted by on December 10th, 2018 at 12:41 pm


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