It’s been a wild and woolly ride this week. After running the banking industry right to the edge of the cliff, it appears things have settled down…for now. Stocks were deeply oversold by just about every short-term measure and due a rebound, which it has. How far it will recover is the $100,000 question, as pretty significant technical damage has been done, which will require some time and healing to change the downward trend.
And just because folks in Washington are doing cartwheels trying to make us believe all is well, the market remains vulnerable to more shocks in the coming days and weeks, as no amount of reassurances and cheerleading can change the underlying fundamentals that got us here in the first place.
The views expressed represent the opinion of Good Life Asset Strategies, LLC. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness.
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