SPX Daily Chart; S&P 500 Sets Record for 402 Trading Days Without a -5% Selloff

The last selloff in excess of -5% was back in June 2016 when the SPX fell nearly -6% during the Brexit drama. But the central bankers led by the BOE during this event, promised more easy money, as usual, so stocks quickly recovered and continue on to joyous highs month after month as global traders drink Fed wine, BOE gin, ECB champagne and BOJ sake buying stocks at the ask without fear or worry.

The all-time record high for the SPX is 2872.80 on 1/26/18. Price is at 2762 so that is a 110-handle pull back off the record top, -3.8%. So the bears will need to growl more if they plan on creating a selloff in excess of -5%. Sooner or later it will show up. A -5% drop off the record top would be 144 points, so the bears need another 34 points, which would take the S&P 500 price down to 2729.

The prior record was a streak of 394 trading days without a -5% selloff which occurred from late 1994 into July 1996. The beat goes on. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added 12:54 PM EST: Stocks dropped like a rock with the Dow down 355 points after the opening bell then recover then soften again during sandwich time. SPX LOD 2733. The S&P 500 dropped 140 points off the record top at 2873, -4.9%. Close but no cigar. The S&P 500 has not made a -5% correction in 402 days and counting. The Dow all-time high is 26615 and the LOD is 25165. INDU, or DJI, has dropped 1450 points off the record top, a fall of -5.5%. So the blue chips are hit harder than the broad market.

Note Added 1:17 PM EST: Stocks are dropping like a stone. SPX LOD 2723. Bingo. Sound the Seven Trumpets! The S&P 500 is down -5.2% off its record top, 149 points, and finally makes a -5% correction after 402 trading days the longest record in stock market history.