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The initial decline from the Oct 2007 peak in SPX was 20%. The initial decline from the Mar 1937 peak in SPX was 19%. The initial decline from the Jan 1973 peak in SPX was 16%. In each instance a significant 33 to 50% bounce occurred before fresh lows were set. The change from the August 25, 1987 high to the October 21, 1987 CLOSE was just under 24%. Yes, there was a steep drawdown for a few days interspersed. The total decline to the initial crash low was 33%. |
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