Broker Check

Market pullback

September 20, 2021

The major indices are all significantly lower following a volatile session as news hit of a default of the largest Chinese property development company.  The default hit global markets overnight and spilled into our markets this morning. I believe that the bull market is still intact. However, we could sell off a bit more on this correction. We have not had a correction and a long period of time and they are common. I’m still forecasting a strong end of the year.

The Dow, the S&P 500, and the Nasdaq are all traded below their 50-day moving averages, with the Dow hitting its lowest level since mid-July.

The views stated in this letter are not necessarily the opinion of Cetera Advisor Networks LLC and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results.