US stocks have slipped, continuing their declines from a day earlier, as a batch of disappointing earnings reports added to the gloom.
With the S&P500 closing at 2467 it is now within 100 points of completing a 20% sell-off from the 2018 highs. 2350 = 20% correction and 2100 = 30% correction.
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If we consider the 50% range of the 2009 low to the 2018 high for the S&P500, it would pencil out to 1820 points. This would be a very significant level of support.
