Hi, friends. A short post this evening, as we in the U.S. ease into the Thanksgiving holiday…
So…corrections. What are they? Are we in the midst of one? How long do they last?
The definition of a correction is when a stock market average drops by 10% from its high.
Currently the Dow is down around 7%, the S&P 500 is down 8.5%, and the NASDAQ is down 13%. So yes – we are in what can be termed a correction.
How long can we expect this downturn to last? It’s impossible to know for sure, but if history is our guide, the typical correction lasts three to four months. When you consider that the market peaked in late August, we will probably be in sell mode for the rest of the year.
Stay the course. Buy and hold. You’ll be glad you did!
I wish all of those celebrating a happy and safe Thanksgiving Day!