Another Down day for the Market


Stocks continue their decline.

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: