Cabot Profit Booster 192 - Cabot Wealth Network

Cabot Profit Booster 192

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Article Excerpt

Last week all the major indices took a small step back. The S&P 500 lost 1.69%, the Dow fell 2.15%, and the Nasdaq declined 1.61%.

The headlines say the 5-day pullback was the largest for the S&P 500 since February. But considering that the streak of over 230 days without a 5% pullback is still in play, the short-term bearish stretch last week was minimal.

And even with the slight pullback last week, my sentiment has not changed. I remain
“cautiously optimistic” until I see market action that changes my mind.

Of course, if we see further continuation of the recent bearish trend, I might begin to shift my outlook. But a week doesn’t make a trend, and again we must remember we are only a few percentage points from all-time highs.

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