To add color on where the S&P 500 ("SPY") could be headed - please see the chart below. The SPY has been trading in an extremely tight range for almost two months. When charts consolidate in this manor, its the equivalent of a tightly wound rubber band ready to snap. In our monthly update I noted a -10% decline wouldn't be a surprise. If there is a decline, this would present a buying opportunity as P/E multiples would decline 15% if the Trump tax cuts take form in 2017.
We just sent you an email. Please click the link in the email to confirm your subscription!
OKSubscriptions powered by Strikingly