Over 40% Of The S&P 500 Is In Correction Mode

Tyler Durden's picture

The S&P 500 is down around 4% from its highs (outperforming the high-beta hangovers of Nasdaq and Russell 2000 that were down almost 10% from their highs at today's lows). But under the surface, the S&P is ugly with the 500 index members down 10.5% on average. 213 members of the S&P 500 are down over 10% (in correction mode). Only 72 member of the 500-stock index are 'beating' the index... this is not just a small-cap growth-hype selloff... it's spreading...


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NotApplicable's picture

Sooo... time to recalibrate the index?

kchrisc's picture

Need to add ZZZZ Best to the index.

Say What Again's picture

Everyone should take a look at a chart of the SPX from 1983 up to 2000.  Even with the crash of 1987, you can see what the FED can do when they decide to print fo'eva.

TBT or not TBT's picture

We only need a few big nationalized mega corps to control everything, so the outperformers here should go to the moon. All in, leveraged!

Midnight Rider's picture

Think they might have already shot that bullet. Look at the SPX from 2009 - 2014.

wallstreetaposteriori's picture

whoomp... there it is?  throw back tuesday?

Say What Again's picture

And the Nasdaq $COMPX is ready to break down through the 200 Day MA.  Personally, I think that's what was being defended today.  You know that once the $COMPX breaks down below the 200 Day MA, everything else will follow in a Margin-Call induced selling frenzy!

max2205's picture

Everything on my watch list over $200 is down at least 10% to 30%

We collapse or have a hell of a bounce

Babaloo's picture

Once it breaks down? And if it doesn't ?

Shouldn't you understand you might be wrong?

SAT 800's picture

Very difficult for the Stock Market to go down "significantly"; eg. crash; in late Spring. It's the wrong t ime of year. It's more likely it'll form a bottom that will be bought somewhere north of 1400. The one in October is the rally you want to sell short.

Silver Bug's picture

Look out below, this correction is going to be a big one once it sets in, in ernest. How long can the FED keep this phony market afloat?



dirtyfiles's picture

can't manipulate them all

db51's picture

Don't bet on that assumption.

NotApplicable's picture

Mr. Yellen laughs at your naivety.

kaiserhoff's picture

Yaz, His beard isn't doing too well

Is that an omen?

kaiserhoff's picture

You can if you mess with futures or the VIX.

Something similar happened in Japan back before the crash in 89.  Some silly sock manufacturer was selling at almost a thousand PE/ratio.  Why?  It was part of the index, and got dragged along.

db51's picture

3:30 toorrow afternoon....turn that chart over and color it green.

kchrisc's picture

Dimon to Yellen: We need more power!”

naughtius maximus's picture

This is definately bullish

Freewheelin Franklin's picture

Janet just can't run those printing presses the way that Ben could. 


Oh how I mis my little Bennie. 

JustObserving's picture

Michael Ruppert dead

9/11 conspiracy theorist and investigative journalist 'commits suicide'
  • The 63-year-old former narcotics investigator with the LAPD, shot himself after a final radio show broadcast, a friend reported
  • Mr Ruppert gained notoriety for theories that the U.S. government and Wall Street were behind 9/11 attacks
  • Did he shoot himself twice in the head like investigative journalist Gary Webb?

  • On November 15, 1996, then Director of Central Intelligence John Deutch visited Los Angeles' Locke High School for a town hall meeting. At the meeting, Ruppert publicly confronted Deutch, saying that in his experience as an LAPD narcotics officer he had seen evidence of CIA complicity in drug dealing.[11] The confrontation was handled by Deutch poorly,resulting in his termination from the CIA.(wiki)
  • Ruppert is the author of Crossing The Rubicon: The Decline of the American Empire at the End of the Age of Oil,[14] published in September 2004. Crossing The Rubicon claims that Vice President Dick Cheney, the US government, and Wall Street had a well-developed awareness of and colluded with the perpetrators of 9/11. (wiki)

  • http://www.dailymail.co.uk/news/article-2605429/9-11-conspiracy-theorist...
fonzannoon's picture

Todays bounce off the 200d day MA just drove him nuts. Almost get me too.

Savyindallas's picture

May he RIP. I have his book. He is a patriot and a great man.

ebworthen's picture


The retail crowd might hear you!

3:30 ramp to keep them buying and believing.

gettingready8's picture

How does the talking heads on CNBC continue not to see/report what zerohedge so easily points out each day.  It is pathetic and clear that the CNBC peeps do not think for themselves.  Many here know this already but it is amazing to turn CNBC on and see them cheerlead this thing. 



whidbey-2's picture

The networks and advisers know where we are in this bear; they are selling and shorting a top that lasts all summer and keeps going.  But wait, It is just the second act and the promoters are just starting to play their parts.  Next, this summer comes the creation of hope; Act 3 = selling  hope - "a recovery by Halloween". NO? We see soon and will be told buy now some aces for when a new bull starts by fall for 2015. The final scene comes when it is realized the play this year will eally be two to five years long. Panic and onfusion reign. Watch and be amazed. Thus the end of a cycle that took years to form, and will need years to run its course. If the currency crashes (watch the fed they have several chances to screw up), and it could, we will live three lives concurrently.  Talk about busy.  LONG play, bitter ending.

Bunga Bunga's picture

Just got an e-mail from my broker. They said April is the best month to buy stocks.

HardlyZero's picture

Nice chart.  Over time this chart-series should show how things are evolving.  Would be great to flip-chart to see how it all changes.

AdvancingTime's picture

I feel we been lulled into complacency by the extraordinary actions taken by central banks and governments over the last six years. Have these actions really worked or merely masked over major flaws and problems?  By not demanding the right kind of growth and by throwing money at problems we have only delayed and added to festering issues that face us in the future.

In what most of us view as a fast moving world many people have come to think if a financial crisis doesn't occur today or in the next few weeks it is simply not going to happen at all. More about how many investors have become far to complacent in the article below.


AlchemyFinancial's picture

Market is reaching a long term top.  Whether this is it right now, or whether there is one more parabolic rally before it crashes is the question.  I am looking to gold to provide an inverse correlation when this occurs.  Here's where we stand with gold currently.