FYI: It was just over one week ago that the S&P 500 closed at its high for the year, and we haven’t had an up day since. Whether it’s fears over a potential Brexit, concerns regarding the economy, or that the FOMC has lost all credibility, investors have become increasingly concerned. Earlier today, it looked like a sixth straight down day was a sure thing, but since European markets closed just before lunch, the S&P 500 has rallied making it a closer call. As we type this, the S&P 500 just flipped into the green. Looking at the chart below, even with the weakness we have seen over the last week or so, the S&P 500 is still only a little more than 2% off its 2016 closing high for the year. From that perspective, can you recall a time when the S&P 500 was this close to a high for the year but where there was this much angst on the part of investors?
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/six-day-losing-streaks/
