20k would be an almost Armageddon that would be a pullback of over 45% from recent peak. But I don’t think it’s unprecedented. However I really would think it would find support way before that level. Once you filter out the emotional noise the market will price out by forward looking PnE and earnings projections.
Wall Street and banks are preparing themselves for layoffs
I start dollar cost averaging back in at the start of November. Will take me a few months two get all the way back in and I’ll be 70/30 equities/bonds. We’ve got 3 more CPI reports and two more FOMC rate hikes to go this year and the market has taken a dump after each occasion all year long. I think the analysts are finally starting to remember “don’t fight the Fed” because that’s exactly what they’ve been doing all year long.
I do. It’s actually a gal. And not a brokerage house it’s a wealth management company. That is a summary of the plan we put together yesterday at a meeting she’s been beating me up to have. Consensus is the market still has farther down to go but how much and for how long who knows. But there is plenty of ground given up to make a plan and get ready to get back in which is what we did.
