A pullback is between 5% and 10% below a recent closing high (I choose the all-time closing high of 1/3/22). A correction is down between 10% and 20%. A bear market is down over 20%.
S&P 500 history: https://finance.yahoo.com/quote/%5EGSPC/history?p=%5EGSPC
4550 -- Today's close
4797 -- all-time closing high, 1/3/22
Year-to-date: 12/31/22: 3840, today: 4550, up 18.5%
S&P 493: The S&P 500 without the Magnificent Seven: "basically flat" year-to-date
https://finance.yahoo.com/news/stock-market-news-today-stocks-mixed-but-still-head-for-blowout-month-123520402.html
... The "Magnificent Seven" tech stocks — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA) — make up roughly one-third of the S&P 500's market cap. Collectively they are up 80% this year. And when the S&P's growth is measured without them, the S&P493 is basically flat, according to an analysis by Apollo Global Management’s chief economist Torsten Slok.
... "AI is the latest shiny new toy," is how Slok characterises the massive growth of the Magnificent Seven. "In fact, S&P7 valuations are beginning to look similar to the...tech bubble in March 2000," he said, noting that the seven companies have an average P/E ratio above 50.
...
Bonds have done considerably worse over the last 2 years.
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