When it comes to unexpected news, my tactical inclination is to stand aside and let the market tell the story, and then reassess once the dust is settled.In a very short time, the market has gone to a full-blown panic.
The breadth of the decline has been astounding, and it is unusual to see this level of correlation in a sell-off, especially when the SPX is only -2.1% off its all-time highs as of Tuesday's highs. This kind of behavior is evidence of a panicked stampede.
That said, the dust is starting to settle on this trade related downdraft. It is time to assess the situation.
The full post can be found here.
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