The 52-week high for the S&P is at 1370. The talk on TV is that "Official Bear Market Territory" is 20% below that high or at 1096.
Coincidentally, that is just about the same level we are bouncing off of today.
I personally think the "Bear Market Territory" thing is stupid...I've been in the market a long time and never heard of this crap until CNBC made it up three years ago.
However, so far, it is what it is. Hopefully it holds up.
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