S&P 500 Spring Redux?

Includes: SPY
by: Bespoke Investment Group

With another decline today, the S&P 500 is now down 6.22% from its bull market closing high reached on September 14th. While it may not seem like it, this decline has been going on for 41 trading days now. As shown below, the recent pattern looks a lot like the pattern we saw in the first half of this year. Following a straight up rally from last December through the end of the first quarter, the S&P fell 9.93% over 42 trading days. Tomorrow will be day 42 of the current pullback.

Click to enlarge