Wednesday, 17 April 2013

S&P 500 - still a long ways to go

For all the chatter this week about the market volatility and drops, you would think we've started a massive down spike already.  Earlier today, a CNBC guest was asked if we're at the bottom already.  I was in disbelief.  

We just hit an all time peak 4 days ago.  We're still so very close to the top and peak of the market.  The current level was where the S&P was just last Wednesday.  So if there is a correction, we got a long ways to go.  To hit the point where the S&P was at end of last year, we would need somewhere like 12 more days like a row.

Oh and the VIX is up... but just barely.  Its got a long point to go before we're in the "fear" region

So if market is going to correct, we've only just got out of the chair, we haven't even gotten into the car yet.

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