Below is the chart I keep to track the current correction. The end of this week will mark week 5 since we topped. Most of the indexes, except for the SP500, NAS, and DOW have now reached the 10% correction level. The SP500, NAS, & DOW are now 3/10th, 3/10th, and 1.5% away from reaching 10%. Considering the market is at oversold levels and everyone was looking for a 10% correction, there is a good chance that a relief rally is in order. The bad news, nothing really setup to the long side, so nothing to get excited about. The good news, we need the relief rally to allow stocks to rebuild their bases.
| 8/15/2007 | Correction | Correction Levels | |||||||||
| Index | 52 WKH | Start | Length | Low | % | 10% | 15% | 20% | 25% | 30% | |
| Dow Jones Industrial Average | 14,021.95 | 07/17/07 | 4.40 | 12,834.24 | -8.47% | 12,619.76 | 11,918.66 | 11,217.56 | 10,516.46 | 9,815.37 | |
| Nasdaq Composite Index | 2,724.74 | 07/19/07 | 4.00 | 2,457.89 | -9.79% | 2,452.27 | 2,316.03 | 2,179.79 | 2,043.56 | 1,907.32 | |
| NYSE Composite Index | 10,238.25 | 07/13/07 | 4.80 | 9,079.93 | -11.31% | 9,214.43 | 8,702.51 | 8,190.60 | 7,678.69 | 7,166.78 | |
| Russell 2000 Stock Index | 856.48 | 07/13/07 | 4.80 | 743.39 | -13.20% | 770.83 | 728.01 | 685.18 | 642.36 | 599.54 | |
| S&P 400 Midcap Index | 926.67 | 07/13/07 | 4.80 | 818.95 | -11.62% | 834.00 | 787.67 | 741.34 | 695.00 | 648.67 | |
| S&P 500 Index | 1,555.90 | 07/16/07 | 4.60 | 1,404.36 | -9.74% | 1,400.31 | 1,322.52 | 1,244.72 | 1,166.93 | 1,089.13 | |
| S&P SmallCap 600 Index | 445.82 | 07/17/07 | 4.40 | 394.83 | -11.44% | 401.24 | 378.95 | 356.66 | 334.37 | 312.07 | |
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