Over the past 2 weeks the market dropped modestly after several months of strong gains. This type of drop is not unexpected, and as I mentioned a couple of weeks ago, historically August through October is a time of below average returns.
Market pullbacks of 5-10% occur on average every 3-6 months and the last one was in March. Currently this drop is only 3.5% and doesn’t yet qualify as an official pullback. If the market continues to go down over the next several weeks, it will be a good buying opportunity to buy at lower prices before the market likely continues its advance to new highs. Alternatively, this could just be a minor downturn that’s over as quickly as it starts.
If a good buying opportunity does present itself, you’ll be informed in future market updates. In the meantime, enjoy the rest of your summer!
Photograph by: Kylo on Unsplash
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