How Will Evergrande’s Insolvency Affect the Stock Market? By StockNews
Each correction begins as a dip. Not every correction is a dip. This is worth noting with the S&P 500 (SPY) off by 4% from its highs, and the Vix up by more than 30% at today’s lows. How do we decide if this dip is worth buying or whether it will turn into worse. This will be the major focus of today’s commentary. You will find updates about the coronavirus situation, and what it might mean for our portfolio. Read on below to find out more….This is an updated version of my weekly comment published on September 20, 2021 by the POWR Growth newsletter.
First, let’s do our regular look at what’s transpired in the S&P 500 for the last week:
For much of last week, the S&P 500 traded in a tight range between 4440 and 4480. It broke this range to the downside on Friday, and this negative momentum continued as the S&P 500 was down by more than 3% at its lows of the day before an end-of-day rally, cut these losses nearly in half.
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