The Market: S&P 500 Crash Watch
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The Trapdoor
Discussion
What a start to the year. The S&P 500 has done almost everything in its power to lead investors to believe a new bull market is underway: cyclical sectors have outperformed defensive, credit spreads have tightened, key breadth thrust signals have fired, and, most critically, Fed Chair Jerome Powell appeared to endorse a new bull market in his February 1 press conference. But it’s a trapdoor: