The S&P has been in a trading range now for the last 4 weeks (see chart below). I think we will probably chop side ways here until some news makes us move out of this range. The question will be whether we move up or down?
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The S&P500 had a down week as its close on Friday is now -5.91% below the high close on 7/26/19 of 3025.86 (see chart below). The past 3 weeks it has been in a trading range and I feel there is nothing to worry about yet. We could break lower out of that range, but still wouldn't worry until we go below the 6/3/19 low and get below 2723.27 which would put us into a -10% correction. If you have your portfolio set up with the proper asset allocation of stock and bonds to match your risk tolerance, there is still nothing to worry about as this is how the market operates! Knowing your risk tolerance is the most important part of investing! Look at this chart to see how much of a loss you can stomach and adjust your portfolio to that mix.
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