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When I see a daily return in the stock market with a "1" in front of it these days, it almost seems like it was a flat day. The S and I funds lost "only 1.8% and 1.6% respectively. The C fund was down 2.6%. Of course a 1% move used to be considered large, but not in this market environment.
The S&P 500 dropped below that 866 level I would have liked to have seen it hold. The reason I was watching the 866 area was because it was the 50% retracement of Thursday's
Stocks could not follow-through on Friday after Thursday's big reversal day, as the Dow gave back 338 of Thursday's 553-point gain. The TSP stock funds dropped between 4% and 5.6%, which is really amazing, but quite routine lately.
If there is any bright spot, the market gave back less than 50% of Thursday's trough to peak rally. This can be considered a technical retracement and if the market can hold up well this morning, we could see the rally resume.