First off, happy day before Thanksgiving! We hope everyone has a fun day with family, turkey, naps, and football. My Bengals are on in the evening, so odds are they’ll ruin my day, but we’ll see.
Now let’s get to it.
After a 38% rally in about six and a half months, the S&P 500 had some fairly unusual for November weakness and saw the first 5% mild pullback in more than six months. To us, after the historic run, some type of pullback was probably necessary to shake out the weak hands and honestly, so markets could catch their breath before another possible move to new highs before 2025 is over.
Here’s the thing, if this perfectly normal 5% mild pullback has you up in arms and panicking, then we need to have a talk. These types of mild pullbacks happen many times a year on average and are simply part of investing. Or as we like to say, “Volatility is the toll we pay to invest.”
For more of our thoughts on this very important subject, please watch our latest Carson Take Five video below.
For more content by Ryan Detrick, Chief Market Strategist click here
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