During the past month, the S&P 500 fell more than 198 points from its peak, and it appears to have hit a potential bottom around 1,820. The index bounced 66 points late last week to close at 1,886.76. While some observers may split hairs and say that 9.8% drop from the Sept. 19 high to the low on Oct. 15 falls just short of a correction, I’m inclined to round up and say, “Yes, we had a correction.” Trust me, I double majored in mathematics and economics, so I may have an idea of what we’re talking about when it comes to rounding.
What helped pacify the market this past week?
Was it a detected turn in the economies of the euro zone or China?
Read more about the reasons the market has bounced back and reactions to that rise at Eagle Daily Investor.
