The S&P 500 Breaks to a New Cycle Low

The stock market had another ugly open on Monday morning. On Friday, the S&P 500 closed above its low close from May 19 by 0.07 points. The May 19 figure is the current low close of this cycle. That may end today. The market is looking at its lowest close in 15 months.

The number to watch is 3,837.25. That’s a 20% drawdown from the all-time high close from January 3. The S&P 500 has been as low as 3,769 this morning. The Nasdaq Composite is now down 32% from its high last November.

Posted by on June 13th, 2022 at 10:32 am


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