As we stated the other day, a close below 1900 would be problematic from a technical basis. With the markets down over 400 points today, Granite Group thought it would be prudent to impart a few facts:
1) Economic numbers in general are good, but not over the top great
2) The markets are trading at a little more than 14 times next year’s earnings ( 14.1 is the 10 year average)
3) The world is not coming to an end
For patient investors, this market presents opportunities. This is not personal advice, just our opinion. For our private or retirement clients, please feel free to call us for any clarification.