Bears Have the Benefit of the Doubt…Not the Bulls
The trend remains to the downside.
Our View
Yesterday I had the “sell the rallies” part right, but I had the “buy the weakness” part wrong.
According to Bespoke, yesterday was the fourth time this year that the S&P traded up as much as 1%, but finished down over 1%. This year isn't even half over yet and this already ranks as the third most since 1983.
Regardless of the lower volumes, vol…