Market Correction? Not There Yet.

May 18, 2006 2:48 PM ET
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We've seen a lot of commentary in the last 24 hours suggesting that the market's "correction" over the last few days is nearing its end. However, if we apply our standard definition of a market correction (10% decline from a peak) to the last few days we find that some of the major indices still may have a ways to go to have a "real" correction:

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Cleve Rueckert graduated from the University of Vermont in 2006 with a BA in Economics and minors in Philosophy and History. He began working at Birinyi Associates in May of 2005 prior to graduating. In addition to managing Ticker Sense, Mr. Rueckert is also a senior equity strategist at Birinyi with a focus on large cap US equities. He also manages the operations and development of Birinyi's subscription based services for individuals and institutions alike. Birinyi research and commentary is regularly featured by the New York Times, Wall Street Journal, Barron's, Bloomberg, Forbes, Fortune, Reuters, and CNBC.

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