The market was subject to a very normal pause to refresh. Why not ? Bonds have been up big. The market had been up big. We were vulnerable to good news, bad news, no news. The underlying bull market remains very positive.
We've had a dramatic rally this year, and we're getting a normal pause today. The companies that are pulling back are the ones that have had very good runs. So far, that's the message of the market.
We had a very big celebration yesterday but there is still a lot of fear in the market. We got above 11,000 and now we're retesting it in a very normal pause to refresh.
This is normal and overdue. But we've probably not seen the bottom.
Fluctuation is normal after a run-up. The economic news is not good and it's not going to be good for a while, but we are in recovery mode.