GOOGL - S&P 500 is in a correction: history favors bulls but bears have the Fed

The S&P 500 (SP500) (NYSEARCA:SPY) is experiencing its first correction since the spring 2020 COVID plunge. The broader market cemented a drop of more than 10% from highs at the close Tuesday, the typical Wall Street definition of a correction. "The entire COVID Crash only lasted 23 trading days while this correction is already at 34 trading days," Bespoke Investment tweeted. History points to a rebound: Looking at recent history back to 1998, the stock market is higher a year after a correction. Twelve months later the S&P 500 (SP500) (SPY) is up 9.3%, rising 2/3 of the time, according to Dow Jones. The bullish theme holds even if the market keeps falling after hitting correction territory. "About half of the time a 10% correction becomes a 15% correction and a quarter of the time a 10% correction becomes a 20% correction," Andrew Slimmon, senior portfolio manager at Morgan Stanley

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S&P 500 is in a correction: history favors bulls, but bears have the Fed