I usually follow the S&P 500 and when I looked at the charts this afternoon, it appears the next level for any support is about 3400. That would be another 500 point drop.
Bond market was up today and that implies folks are getting scared and are moving their money into bonds.
Shiller PE ratio at 30.6 is still 18% higher than the 20-year average of 25.9.
3,854 on the S&P would mark a 20% drop from the all-time high, and a bear market.
It’s coming soon. A Bank of America strategist whose name escapes me sees the index at 3,000 by October.
I’m looking at Dow 25,000 as a good buy-in point.