It was a boring week on Wall Street. Most weeks are…if you focus on the numbers and ignore the headlines. As a whole, the US stock market represented by the most widely publicized S & P 500 Index had the following performance through Thursday of this week:
The S & 500 started out Monday at 2,877 and closed on Thursday October 11th at 2,728!!
It is always stressful when the stock market goes in the opposite direction of what you want, but it isn’t news and it isn’t new. Since May 8th, 2009 the S & P 500 has had 23 “corrections” of more than -5% not to mention that the last one was earlier this year from Jan 26th through February 9th when it went backwards to the tune of -11.8%. An old term that I don’t love but it works is that the stock market is often “an escalator up, and an elevator down.”
However, during the course of these 9 years, while enduring 23 downturns, here is the total uphill climb:
Investing, like most things in life, has times of frustration which make staying the course the right, but more difficult thing to do. Everyday I am at the helm, monitoring events, watching prices and double checking the strategies that we employ. If there are questions, concerns or you want to chat please give us a call.
(Thanks to www.Stockcharts.com for the above graph)