If the S&P 500 closes below the mid-June low in the days ahead, that may prompt another wave of aggressive selling, Stovall said. This could send the index as low as 3,200, a level in line with the average historical decline in bear markets that coincide with recessions.
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Liquidity conditions are tight and all leading indicators like Copper Prices, Crude Prices are beginning to show signs of revival and might trend upwards suggesting