“We’re Not in Bear Market Yet”
Despite the major selloff, however, the market is not yet in “bear” market territory. A bear market is defined as a drop of at least 20% off the recent high. The Dow closed at 14,164.53 on Oct. 9, and ended Thursday down 19.1% from that peak.
It’s just a technicality at this point. Just declare the bear market already, CNN!
Even though people are expecting “an oversold bounce” tomorrow, is anyone really brave enough to buy ahead of the weekend?
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Kat,
They are referring I assume to a bear market in nominal terms. In real terms, the market is down some 60% odd.
jog on
duc
Well, they’re looking at them points. And inflation is, of course, 0%.
/end sarcasm/
With all the news about being on the cusp of a bear market the market is facing a strong headwind on Monday. Inverse EFTs have worked well for me last week. People are talking about a bounce; I don’t know.
John,
a lot of people are also expecting a bounce before the next leg down.