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Is the Recent Drop in the Stock Market Cause for Concern? -Breaking

by Mike Robinson

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Are Stock Market Drops a Sign of Concern?

The most important question, following the S&P 500 (SPY) drop on Friday and modest rebound on Monday: Is this a bottom or simply another bounce before we move lower? In today’s commentary, I want to make the argument that this is a bottom and provide my reasoning. It’s also a good opportunity to update our market outlook and strategy going into what looks to be a promising year-end setup. Read on below to find out more….You can enjoy the updated version of my weekly Commentary, published Nov 29th 2021 in the POWR growth newsletter.

First, let’s take a look at how much has changed over the past week:

As we can see, the deterioration in market conditions that we discussed last week, started to also matter for the S&P 500. From its peak last Monday to Friday’s low, the S&P 500 was down by a little more than 3% before clawing back a little more than a third of its losses in today’s session.

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