With Friday’s continued drop in the S&P 500, the index has now fallen 75 points from peak to trough. This is the second largest pullback in terms of points and percentage retracement since the March 2009 rally began.
"Keep in mind that to match the 9.1% pullback of June-July 2009, the SPX would need to fall to 1045. The way the market is reacting negatively to what appears to be positive news, 1045 certainly cannot be ruled out." in VIX And More
Another interesting note is, the stocks that are down the most in this ongoing market correction are the ones that rallied the most in 2009:
"We broke the S&P 500 into deciles (10 groups of 50 stocks) based on stock performance in 2009 to see if the big winners from last year are the ones getting hit the hardest on the recent pullback. As shown below, they definitely are. The 50 best performing S&P 500 stocks in 2009 have averaged a decline of 9.5% since 1/19. Each successive decile from best to worst in 2009 gets better in terms of performance since 1/19. The 50 worst performing S&P 500 stocks in 2009 are only down an average of 2.9% since 1/19. The winners during the bull run are being sold with authority." in BIG
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