2.3% Decline Getting You Down, Bunky?:"Based on Breadth It Should Probably Be A Lot Worse"

From Bespoke Investment Group:

While a 2% decline is bad enough, today's breadth is absolutely abysmal.  In the S&P 500, there are currently only ten stocks trading higher and 489 trading lower (one stock is unchanged).  Going back to 1990, there have been 59 other days where the S&P 500 has had a one-day breadth reading of -450 or more (as of 11:45 Eastern today's breadth is -479).  On those days, the S&P 500 has seen an average decline of 3.7%, and there have only been six days where the decline was less than 2%.  So as of now, the longs are getting off easy!