Another brutal day
The S&P 500 is puking lower once again today and is now below the June low. That's an especially big level because it coincides with a 20% decline, which is the classic benchmark for a bear market.
If you zoom out to a monthly chart, it shows just how much the market has rallied in the past decade.
There's a major long-term uptrend there and the 2018 low is also an interesting target. A nightmare scenario would be a drop all the way back to the double top at 1552. That would be a 50% drop.
