The overall index of S&P 500 might not yet in to a bearish market, yet almost half of the S&P 500 stocks are being grilled in a bearish barbeque, hurt by the worries of global growth and diminished demand. Amid pervasively repellent market sentiment, the S&P 500 had fallen by 1.89 percent, continuing the course of its recent leg of losses, however, it reversed courses at a late-staged rally, on the news of Brexit delay and troublesome economic data over the other part of the world in Japan and China, while American Dollar is standing strong over 96.60.
Followed by the reversal of bearish course, the S&P 500 ended the day with a marginal gain of 0.17%, slightly lowering its December losses in to 4.44%. Since October, the S&P 500 indexes had been in a correction course and many analysts predicted that the correction course might muzzle at least a 10% drop or more.
As the market data suggests, S&P500 should not be crossing the 20% threshold, which is widely known as a bearish market, although, almost half of its shares, 245 stocks or 49 percent to be precise, are in bearish pattern and had fallen over 20 percent or more from their yearly highs.
Another 127 stocks had fallen between 10 to 20 percent, triggering the possibility of an overall bearish S&P500 momentum.