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Tom Petty and the Stock Market

 

The recent passing of rock legend Tom Petty has come at an interesting time in the stock market.  The titles to many of his iconic songs have been running through my mind over the past week or so.  He had his personal struggles and professional ups and downs and that is something every investor can relate to with the stock market!  Believe it or not, we just saw the 10 year anniversary of a then all-time market high the Dow Jones Industrial Average made on October 9, 2007.  From that time investors saw the market “Free Fallin” to the lows of March 2009 and the subsequent bull market run we are still seeing as I type.  Is the market still “Running Down a Dream” or are we headed for a “Breakdown?”  It is difficult to say, and “The Waiting” is definitely the hardest part, but we are here to guide our clients’ portfolios through all market environments.  If you are looking for timely information on the current state of the market, follow along with the series “Where’s the Top?” at https://www.offofthecharts.com/blog.  Just as the songs of Tom Petty will live on, the market will go through its ups and downs.  Crank up some “American Girl” and let your mind drift “Into the Great Wide Open.”

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