My Comments: My type A personality is having a hard time not knowing just when the next market correction is going to happen. The six reasons expressed in this article are, in my opinion, very credible.
Some clients have recently abandoned me because I’ve been preaching patience. We’re rapidly approaching the point where the only people buying and moving into the market are the amateurs. They are almost always the last to get in when it’s going up and the last to get out when it’s going down. It has always been thus.
by Tony Sagami | Mauldin Economics | September 18, 2016
The Dow Jones Industrial Average has been going sideways ever since the Commerce Department reported that retail sales in July came to a grinding halt (0.0%).
At the same time, companies including Starbucks, McDonald’s, Ford, Burberry, and Gap are reporting disappointing sales. That means trouble in shopping paradise.
Target just reported a Q2 drop of 1.1% in same-store sales. It expects a “challenging environment in the back half of the year.”
There are many reasons why Americans have become reluctant shoppers. I talked about this in my recent article “The Stressed-Out, Tapped-Out American Consumer.” Stagnant incomes and rising debt loads are part of the problem.