Another Down day for the Market
Major indicies are down again today and will finish in the red. As of 1:50 PM the S&P 500 is just .01% from a 10% decline year-to-date.
The S&P 500 is at 1,838 today.
The next major stop is 1,800 which is too close for comfort for would be Bulls. Since Oct 2015 the S&P 500 is down 11.5%. As most of us know if we cross below 1,800 its a major concern.
For the past 12 months the S&P 500 has traded as low as 1,812.29 and 2,134.72 at the high.
We are at a 22 month low for the S&P 500. This is what we use to gauge where stocks are headed.
The securites to trade along with the S&P 500 are the ProShares Ultra S&P500 (ETF) (NYSEARCA:SSO) that trades at 2x of S&P 500 or the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) (trades a 1x the S&P 500).
Place your bets as to where we will be post earnings season. Today it a win for the Bears.
If you are a bear then enjoy this Debbie Downer video via CNBC, how about S&P 500 to 1,450:
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