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Author: Knox Ridley

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Market Update: S&P 500 at 2600

The overnight market broke through the minor support around 2720, and tested the 2600 region. We are officially in a bear market, and in the upper region of what I’m calling the “shallow bear market” or as one of our readers called it, “the baby bear.” As I had stated when the S&P 500 was around 2900 in the update we published on Saturday, “what the market does around the 2600 region will be crucial.” The 2600 region has historically been a region of significance. It was the last support that broke in 2018, which soon lead to the waterfall…

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