Friday, June 27, 2008

Bear Markets

by Bill McBride on 6/27/2008 01:45:00 PM

For those with a round number fetish, the Dow is now off more than 20% from the peak last October. If it closes at or below this level, then this will be considered an official bear market.

Dow closing high on Oct 9, 2007: 14,164.53

20% off would be: 11,331.62 (right now 11,326 so it's close).

The closing high for the S&P 500 was 1565.15 last October 9th and 20% off would be 1252.12 - so we still have a little ways to go for the S&P.