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Don’t Be Swayed By Risk Off Fears: Rally Looks Intact

May 17, 2019
Don’t Be Swayed By Risk Off Fears: Rally Looks Intact

It feels bad, doesn’t it? Even though the market slipped only a little this past week, the bears are rejoicing like it was 1999. The first five months of this year have been one of those rare market moments that harken back to the mid-90s, when equities relentlessly rallied. Now comes a little cold water.

Since May 3, at one point the S&P 500 was down about ~5%, or ~125 points, the deepest such pullback since the awful days of December. Naturally, investors are asking themselves has this pullback done sufficient damage to signal a major top?

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