Scary Day….Or Not???

Last week the market had a pull back of around 140 points on the Dow Jones Industrial Average. This weak market day caused a little excitement for about 24 hours, but seems to have subsided. For perspective on the day, note the chart below which shows the S&P 500 price performance over the last two months.

Whenever you check the markets and see the DJIA down triple digits make sure to glance at a chart. The perspective you get could let you know if it was time to panic or not. In this case, it appears it was not. An uptrend since mid-March seems to still be in place and the previous high from a few weeks back appears to have held. Only time will tell if the trend continues, but for now the market appears to continue on an upward slope.

Chart 3/1/11 – 5/4/11