S&P down 2.59% since 21 Jan...
Alright, we are looking for at least a 5% pullback. According to my calculations, the major indices have fallen this much since Tuesday, 21 Jan (when the start of a pullback could have officially commenced):
DOW: -0.98
S&P: -1.02
NAS: -0.79
If my calculations are correct, we need to lose at least 4% more in the S&P before an official pullback.
God Bless
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
S&P down 2.59% since 21 Jan...
Be careful out there. This rebound doesn't make much sense given the many uncertainties of the coronavirus and its overall implications. Even Cramer doesn't support it. Furthermore, we weren't even in oversold territory. So, be careful because Mr. Market is still due for at least a 5% pullback in order to remain "healthy." As of yesterday's close, that would've been another decline in the S&P 500 of at least 2.5%. But, now it's going in the opposite direction. Not good for Mr. Market.
God Bless
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
True. But good for us that hung in there the last couple of days. I wish my crystal ball wasn't broken. Can't tell what's going to happen with the coronavirus and impeachment looming. But I guess I will put on my heavy duty depends for men and slip into a nice pair of sticky pants.
May the force be with us.
Yeah... I mean heck, as you know, I rode the roller coaster for 10 years straight... throughout all dips, pullbacks, flash crashes, and all. But, fearing the end of this long-running Bull, I finally jumped off... with an average annual return of 28% over those 10 years. So, it definitely can pay to simply "buy and hold." You should try it sometime!
I have no concerns about the impeachment whatsoever because it's a farce. But, with both of those issues aside (coronavirus & impeachment), we are still overdue for at least a pullback. I was hoping this was it. It still could be it. I guess we'll see in due time.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
There's a lot riding on the WHO emergency meeting this afternoon. I certainly can't foresee how far Mr. Market will tank if they declare a "Public Health Emergency of International Concern (PHEIC)." But, if I wasn't already in (G), I'd be nervous and concerned. I hedged my TD account this morning in preparation. We'll just have to see what happens.
Does anyone know what time that meeting is? I can't seem to find the time... and it's already late afternoon/early evening in Switzerland. Maybe it already occurred? If so, I don't see any headlines.
God Bless
Last edited by Rod; 01-30-2020 at 10:58 AM. Reason: Clarification
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
Some intel on the WHO emergency meeting,
Source: https://www.forbes.com/sites/kenrapo.../#5de4b91d1d59The World Health Organization (WHO) will decide later today in Geneva whether or not to label the novel coronavirus from Wuhan a global health emergency. It is unclear exactly when this announcement will be made, but their International Health Regulations Emergency Committee started their meeting at 1:30pm local time in Geneva.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
CDC just announced the first case of human-to-human coronavirus transmission in the USA.
Edit: It is the spouse of the original Chicago patient who traveled from Wuhan, China.
Last edited by Rod; 01-30-2020 at 11:47 AM. Reason: Clarification
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
WHO has now declared a "Public Health Emergency of International Concern (PHEIC)."
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
Mr. Market seems to be shrugging off the WHO declaration. Perhaps it is already priced in.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
Who knows. It is odd though. Expect the unexpected in this environment.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
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