This past Thrusday, the stock market took a dump.
Walmart missed earnings estimates reporting that traffic through the stores were good, but shoppers were spending less.Then analysts used Walmart's report as an excuse to put the investment community into Panic-mode by saying that we were definitely heading into recession.
Hence, there was a big sell-off Thursday & Friday.
What Are We Panicking For?
To use Walmart's sales report as a gauge is ridiculous.
Here's are a couple questions we should ask ourselves:
- Did we forget that people were probably traveling on vacation?
- Did we forget that many consumers have been buying more expensive items lately such as automobiles & homes?
- And what about specialty stores carrying top name brands? Did we stop to look at whether people are shopping more at these type locations?
Market volume has been extremely most likely due to traders being on Summer vacation. This correction was necessary because the market climbed too fast in too short a time. We should see a stable market now that children have once again started school and traders are back in the game.
Take A Deep Breath From The Recent Dip & Refocus On Viewing The Market With Simplicity.
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