The Pendulum Swings
Last Week: Ouch. The previous week’s sideways bottoming action gave way to a nasty sell-off, with the S&P 500 surrendering its remaining gains for 2018 after declining 3.9%. The Pendulum has quickly swung from greed to fear as the Volatility Index spiked to its highest level since early February. It wasn’t the actual earnings reports that fostered the selling wave, instead it was the more cautionary tone within the reports, particularly [...]