Thought for the day, plus some posts of interest!
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?
“The problem with making assumptions is that we believe they are the truth.” - don Miguel Ruiz
“Create the highest, grandest vision possible for your life because you become what you believe.” ~ Oprah Winfrey
“No matter how many mistakes you make or how slow you progress, you are still way ahead of everyone who isn’t trying.” – Tony Robbins
"Your time is limited, so don't waste it living someone else's life." - Steve Jobs
“No thief, however skillful, can rob one of knowledge, and that is why knowledge is the best and safest treasure to acquire.” ~ L. Frank Baum
“The happiest people don’t have the best of everything, they just make the best of everything they have.” - Unknown
“Unfortunately knowledge is not the single key to success. We have to commit to change.” ~ Deborah Smith Pegues
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.
“Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.” ~Thomas Jefferson
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Disclaimer: Information on this website is to be used for educational purposes only. Information found here are personal opinions and not advice from a professional financial advisor or broker. All trading and investing comes with risk!