After gaining 28% in a straight line since the last “wobble” (last October), the S&P 500 index is wobbling again and is down 2.4% from its April 1st high. The S&P 500 equal-weighted index is down 3.8% (after gaining 27% since last October), and market breadth has dropped from 85% (of stocks above their 50-day moving average) to 44%.
S&P 500 is wobbling again