It’s been a nice run. We are due for a pullback.
However, we are still in September and October is next. The market has a history of a significant correction in the mid-term election year, followed by a big rally. We did see a correction from spring into the summer, with the SP500 finding a low (and so far buyable) in the 1030-1050 range.
Will the pullback revisit the 1030-1050 range? Exceed that? My best guess is that a pullback won’t be more than a few percent. But there may be some worries ahead of earnings season. I think things are better than we’re reading in the headlines, but that hasn’t helped anyone find a job yet. The current uneasiness about taxes and health care costs could be weighing on hiring decisions.
***
Remember, it is now fall. So if you’re out at the beach, make sure you have a sarong to keep you warm if the weather chills a bit.
Home sick again. But feeling much better today.
It is good that I’m not at work making big decisions. I went to pour some Rice Milk over my Cheerios, and grabbed the box of chicken broth instead. Whoa, salty.