The markets are turbulent but I don’t think this is a time to panic. Personally I see it as an opportunity to buy in at November 2017 prices, which is where the market has dropped back to.
Trump Tax Cut enthusiasm had allowed the market to get ahead of itself…but, the market remains in a long term GLOBAL secular uptrend, since commodities bottomed in February 11, 2016. I have no idea when this correction will end. I think it’s likely to find support at the 200 day moving average (purple line on chart).
Unless fundamentals or politics drastically change, I believe we’re in a long term bull market that’s being fueled by a Commodities sweet spot. Oil, copper, ore…virtually all commodities are in a price range that’s favorable to both buyers and sellers. Therefore, consumer prices are not increasing and yet producers are profitable. It’s a GLOBAL win-win.
I haven’t changed my thoughts on this correction since last week, which you can listen to here: https://www.wealthsteading.com/257
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