This Telltale Bear Market Signal for Stocks Has Never Been Wrong
There's no denying that it's been an uphill climb for Wall Street and investors since the year began. Remember that fabled walk to and from school in three feet of snow, uphill, both ways, which your parents told you about as a kid? This is the stock market equivalent of it.
Since the three major U.S. indexes hit their all-time closing highs between mid-November and early January, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and technology-focused Nasdaq Composite (NASDAQINDEX: ^IXIC), have respectively tumbled by 19%, 24%, and 34%, as of June 16. More importantly, it firmly places the Nasdaq and S&P 500 in a bear market. The S&P 500 is often viewed as the best barometer of U.S. stock market health.
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Source Fool.com
