Payne's Perspective: August 23, 2021: Gut Check Moment
When historians review this bull market or folks simply go back and look at the data, there will be assumptions that last week was a nondescript week - just ho-hum. A typical summer week of doldrums, where the market moves around like a piece of driftwood on a quiet lake, where the only movement comes from the ripples of young children on the banks learning to fish for the first time.
But it was a rough week with big swoons in all the market indices accompanied by non-stop chatter of Fed tapering, market valuations, and an assortment of reasons to get out.
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