Super Quick Market Thoughts

A bad end to the week

So, the S&P 500 closed at 3,900.86 yesterday. It wasn’t a good week and I thought for sure that we had a new closing low for this current downturn.

But, it wasn’t - it was just really close. That’s because, on May 19, 2022, the S&P 500 closed at 3,900.79, or 0.07 points lower.

That 0.07 doesn’t really make a difference of course. The important thing is that things looked bad again and are hovering around the worst level since the wheels came off the bus.

At this point, in my gut, I feel that there are more new lows to come. The question, as always, is just how much lower there is to go!