Subject: Re: A change in market direction
Washout day? Black Monday wannabe?

Not yet. SPY is down about 6% in the last month (-3% today, and -3% the previous month).

Most extreme monthly SPY returns:

  Date    21d
19871028  -27%
20081022  -24%
20020723  -19%
20010920  -16%
20081120  -16%
19740912  -15%
20110823  -13%
19620605  -13%
20010316  -12%
19900824  -12%
20100525  -11%
20020920  -11%
20200330  -11%
19731212  -10%
  ...     ...
19740314  10%
19910225  10%
19621204  10%
19991115  12%
20200429  12%
19870129  13%
20081222  16%
19821103  18%
19820903  18%
20020821  19%