Not-So-Sweet 16

Not-So-Sweet 16

There's something about 16%, apparently. Although I'd be inclined to file this away in the "random, meaningless factoid" folder, I suppose it's worth mentioning given that US equities came into the week perched at new records, leaving bears flummoxed at the persistence of a rally that's pushed valuations beyond dot-com levels on some metrics. In the pandemic era, the S&P has a propensity to sell off whenever the gauge trades at a 16% premium to its 200-day moving average. This little kerne
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