Teetering On A Ledge Stocks were down for the week. However, on Friday stocks bounced strongly on long-term support. Over the past couple of years, the S&P 500 has hit this level now four times. Stocks again are trying to advance off of this level. If stocks cannot stage a meaningful advance from here and they turn decisively below support, odds are high that the fall would be substantial.
Nothing has changed over the past week. Stocks are still in a downtrend, and any bounce we have gotten thus far has been morphed by a stronger decline. Stocks must hold support or risk another strong wave of selling.
Client Update
Both Aggressive and Conservative accounts are invested in various Bond Funds.
We Can Help
“Don’t wait until you’re in a crisis to come up with a crisis plan.” – Phil McGraw
Craig Thompson, ChFC
Email: [email protected]
Phone: 619-709-0066
About Asset Solutions
Asset Solutions Advisory Services, Inc. is a Fee-Only Registered Investment Advisor specializing in helping the needs of retirees, those nearing retirement, and other investors with similar investment goals.
We are an “active” money manager that looks to generate steady long-term returns, while protecting clients from large losses during major market corrections.