Ups and Downs
Ups and Downs
So frustrating. Energy stocks didn't follow the market up, but they sure seem to be following it down.
Re: Ups and Downs
The stock market has experienced a correction of 15% or more every 727 days – or about every other year – on average since 1950.
We've now gone more than 2,350 calendar days and counting... or more than three times longer than "normal."
An 8% decline in six days is relatively rare. But it's still only about half as much as we'd expect to see in a normal, healthy correction. In fact, what we've seen so far doesn't even qualify as a "correction." We're still only in "pullback" territory – defined as a decline of at least 5% from a high.
We've now gone more than 2,350 calendar days and counting... or more than three times longer than "normal."
An 8% decline in six days is relatively rare. But it's still only about half as much as we'd expect to see in a normal, healthy correction. In fact, what we've seen so far doesn't even qualify as a "correction." We're still only in "pullback" territory – defined as a decline of at least 5% from a high.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group