Even Closerrrrr to New Lows
Only a -2.4% drop to a new downturn low
The S&P 500 closed at 3,789.93 on Wednesday, which was pretty close to the downturn low of 3,666.77 set on June 16th. The market then went down to 3,757.99 yesterday for a modest decline of -0.84%.
But, now, the S&P 500 is only -2.4% away from a new downturn low! That won’t look good for the narrative that the bottom is already behind us…