Economic Insights

Prior to October 2018, the last real “scares” investors were faced with was August 2015, and the first quarter of 2016. At that time, the long-termtrend for the S&P 500, the 20-month moving average, was in fact broken, BUT it quickly recovered. When faced with stress, we need to step back and look at ALL DATA points around us. Back then, there were two factors that caused us to remain bullish:

First, sentiment was at very low, very depressing levels. Bull markets usually end with euphoric excess. So,.....