down 20.4% from the January 3 all-time high and down 19.9% year to date.

For the S&P 500, the 20% down line is 3838, easy to remember if you know that 1938 was the year of the Munich "peace in our time" Neville Chamberlain - Hitler et al pact.

The first time S&P 500 closed above 3500: 8/28/20,
3600:11/16/20,
3700: 12/8/20,
3800: 1/7/21,
3900: 2/8/21,
4000: 4/1/21
4100: 4/9/21
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S%26P_500

So with today's S&P 500 close of 3818, it's reversed forward progress index-wise to back to about January 2021, although it has had about 1.7%/year dividends in the meantime, or something like that.

Meanwhile, inflation has reduced the purchasing power of the dollar by 13.8% since January 2021. Meaning today's S&P 500 close of 3818 has the purchasing power of 3291, a level first reached between December 2019 and January 2020.

CPI: https://data.bls.gov/timeseries/CUSR0000SA0

3291 -- let's see, 1932 was the low point of the Great Depression stock market crash

And 1991 was the year of the Telephone Consumer Protection Act of 1991 that gave us the inviolable (sarc) do not call list.

Last edited Tue Dec 20, 2022, 03:17 PM - Edit history (1)

much inventory to be recession offloaded.

Speculative stocks, which is to say 2/3 of them, with poor earnings, growth, and debt, are paying the price in this tax-selling season, tech in particular.

DIS really beaten up. Surprised META is going up again.

Update: I'm short NKE going into earnings. Thinking is there are reports NKE merchandise is making its way to off-price stores such as ROSS. So earning could be not so great.