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Ugly

By Ilene
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Ugly

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An ugly day [Friday] to wrap up an ugly week. The S&P 500 fell 5.9% over the past five days, its worst week since January 2016.

Switching to the people’s index, the Dow just closed at its lowest levels since November 24, 82 days ago. The last time the Dow experienced a close at an 82-day low was November 2016. What does this mean? It means that I’m guilty of cherry picking. Forgive me.

Last year the markets cared about nothing. This year they care about everything. That’s the way it goes. The good news is nobody sees a recession on the horizon. The bad news is nobody ever does. The worse news is that stocks can decline with decent economic conditions.

I remain constructive on the next fifty years, but am neutral to slightly cautious over the next fifty days. Have a nice weekend.

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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