Strategas Insight: Give a little, get a little
The S&P 500 Index was down 19.8% from its all-time closing high on September 20, 2018, to its low reached on December 24, 2018, a 9.2% drop in December alone! Nice way to end the year. This accelerating sell profile was more than enough to seriously rattle investors’ confidence throughout, and in the end, a good many (most?) capitulated to a less optimistic intermediate-term view on the durability of the long cycle and duration of the bull market.