Investor Alert: Keep Calm and Carry On

Stock Markets43 minutes ago (Sep 23, 2021 10:31AM ET)

(C) Reuters. Investor Alert: Keep Calm and Carry On

The stock market (SPY) took a scary turn on Monday as news of Evergrande culminated in a worldwide sell off. Now with a little time and perspective investors see this was more smoke than actual fire creating a buy the dip event. Why did this happen? And where do stocks head next? Read on for those answers and more below.Since hitting record highs in early September, stocks were due for a little pullback. This led to a test of the 50 day moving average for the 7th time this year. Meaning this retreat was looking like no big deal.

Then on Monday we broke below that level on ominous sounding news that the largest Chinese real estate company, Evergrande, could be on the verge of collapse with whispers of this being a Lehman type event.

My intraday note on Monday was to “Keep Calm and Carry On”. Meaning don’t panic. Don’t sell. Expect a bounce soon.

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Investor Alert: Keep Calm and Carry On

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