Is the Recent Drop in the Stock Market Cause for Concern?
StockNews
Published Nov 30, 2021 12:06PM ET
Updated Nov 30, 2021 01:31PM ET
Is the Recent Drop in the Stock Market Cause for Concern?
The most important question, following the S&P 500 (SPY) drop on Friday and modest rebound on Monday: Is this a bottom or simply another bounce before we move lower? In today’s commentary, I want to make the argument that this is a bottom and provide my reasoning. It’s also a good opportunity to update our market outlook and strategy going into what looks to be a promising year-end setup. Read on below to find out more….(Please enjoy this updated version of my weekly commentary published November 29th, 2021 from the POWR Growth newsletter).
First, let’s take a look at how much has changed over the past week:
As we can see, the deterioration in market conditions that we discussed last week, started to also matter for the S&P 500. From its peak last Monday to Friday’s low, the S&P 500 was down by a little more than 3% before clawing back a little more than a third of its losses in today’s session.
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