The market continued to act quite well this week, and certainly is looking much healthier than it did just two weeks ago.
Still significantly down from its’ high made in February, the Nasdaq has recovered more than half of its decline and it is finally showing a small gain for the year. The riskier Russell 2000 is still in the toilet, but has made great progress this past week in stabilizing and become more ‘quiet’. As I have mentioned in the past, time heals wounds in the market … and seeing the sideways action as the Russell 2000 has done this week is a great sign that fear is easing.
Obviously the larger caps are still acting beautifully with the S&P 500 and Dow Jones moving into new high ground for the week.
Things are definitely looks much better, hence the reason our longer term strategy entered the market early in the week.
It is nice to see a lengthier correction play out as we have over the past few months. A good correction allows the market to reset and continue upward … so I am happy to see this one stretching out for as long as it has.
On a personal note, I am excited to say my book, Buy and Hope was officially released this week. Check it out at Amazon here, I have included a nice chunk for free using the 'Look Inside' feature.
Hope you have a wonderful and safe weekend.
Resnn Investments, LLC