Imagine if you went on a two-month vacation on August 20th and came back this past week on October 20th. When you left the office in August, the S&P 500 was trading at around 2,030. Back at work on Tuesday morning, you sit up at your desk and pull up a quote of the S&P 500, and you see that the index is trading right at 2,030. You think to yourself, “I didn’t miss much. Maybe next year I’ll take three months.” After the massive moves down and up that we have seen in the last two months, it is hard to believe that the S&P 500 is right back in that historically tight range that gripped the index for most of 2015. As they say, the more things change, the more they stay the same!
Our weekly Bespoke Report was sent out to clients last night after the close. This week’s edition covered the earnings deluge, economic data, international developments, as well as the collapse in the relative strength of the Health Care sector. We also discussed what the current setup implies for the market going forward. If you are already a client, login to view this week’s report. If you are not currently subscribed, sign up today!