June 8, 2011
The S&P 500 closed the day down 0.42%, the sixth consecutive finish in the red. According to my quick visual scan, this is the first string of six losses since before the market bottom in March 2009. The correction is now 6.16% below the interim high of April 29. The index is 89.1% above the March 2009 closing low but 18.2% below the nominal all-time high of October 2007. Below are two charts of the index — with and without the 50 and 200-day moving averages.