JTH

Good Sunday

The generally agreed upon definition of a correction is a loss of -10%. For myself, I apply this definition to Indexes, ETFs, and "stable" stocks. At present, the S&P 500 has fallen -6.48% off its 52-Week High. Here's how some of the other closely watched Indexes have fared.

-4.88% Dow Jones Industrial Average
-6.92% Dow Jones Transportation Average
-11.73% NASDAQ 100
-9.09% Russell 2000

For the S&P 500, the chart below shows the technical -10% level resides at 5102.70

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Keeping this in mind....

At present, 445 of the S&P 500's 503 holdings have a 7-day low in a state of correction vs. its 52-Week High. When I look at this data, I'm not waiting for the correction to happen, it's already here.