FYI: Eighth-biggest intra-quarter reversal in history With the S&P 500’s 10% drop and 13% rally off the lows, 1Q16 saw the eighth-biggest reversal in the past 350+ quarters. Q1 was a tale of two halves, ending with the S&P 500 lagging Gold and bonds, but beating cash and non-US stocks. Our year-end S&P 500 target remains 2000: weak fundamentals should be offset by light positioning / negative sentiment (bullish). But more big swings are likely in a thinly traded market environment.
Regards,
Ted
http://ritholtz.com/2016/04/1q16-goodbye-momentum-hello-value/
