The SP500 and Dow broke through the 50dma yesterday and are struggling again today. After a positive opening, the market is again pulling back. Hasn't the market been down four days in a row? Is that supposed to happen?
- Some cite profit taking and rebalancing.
- Some worry that half the market wasn't working, and now the few stocks that were are correcting which means even worse things for stocks that are mired down. (I'm looking at you and your ilk, $LVS).
- Some say that falling oil prices are bad for the US economy because many of the latest job creation has been in the oil patch.
- World. Economic. Slowdown.
Whatever the reason, I look at the economy and believe that despite the reason du jour for stock market moves, interest rates are low and falling oil prices help consumers and companies who use energy.
Buy the dip!
I still have some cash and have a shopping list. I have not soured on stocks and believe that the market will have a good 2015.