The S&P 500 Just Did Something That's Only Been Witnessed 7 Times in 75 Years -- and It Points to a Very Clear Directional Move for Stocks
An exceptionally rare correction for Wall Street's benchmark index points to a big (and welcome) move for stocks.
The stock market wouldn't be a "market" without the ability for stocks to move in both directions. Although Wall Street has been a wealth-building machine for more than a century, it does humble investors from time to time by reminding them that stocks can go down.
On Feb. 19, the benchmark S&P 500 (SNPINDEX: ^GSPC) achieved its all-time closing high of 6,144.15, while the ageless Dow Jones Industrial Average (DJINDICES: ^DJI) and growth-centric Nasdaq Composite (NASDAQINDEX: ^IXIC) ended the session within a stone's throw of their respective all-time highs, which were both set in December.
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