This Is What A Repugnant Market Looks Like

The chart below is of the S&P 500. This gives as clear an indication of the repugnance of the current situation as any, with eventual bearish consequences once earnings season is over.

(click chart to enlarge)

spx 4-15-18

This remains a market that is prone to readjustment as everything from the potential permanency of a higher interest rate environment, to governmental and geopolitical fears reinforce price weakness.

As discussed in the notes of the chart above, past May into the summer and fall really have the potential to make the volatility we have experienced recently look like a relatively calm period in comparison.

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