Le taureau est mort

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Writes Elfenbein:

After nine years, the bull market is officially over. The S&P 500 closed today at 2,351.10. That’s down 20.06% from the September 21. [A bull market is seen as ending when stocks fall 20% or more from a cycle high.9] A 20% decline is traditionally a loss of 20%. Of the stocks in the S&P 500, 238 are at a new low, and 229 are more than 30% below their 52-week high.  Today we had the lowest close since April 21, 2017. In the last 7 sessions, the S&P 500 has lost 11.3%, and in the last 14 sessions, the index lost 15.7%.

Here is more on the "science" of defining bull and bear markets.