In light of the S&P 500's continued volatility, I thought it might be useful to offer some of my perspective on it. For some background, I'm a former commodity fund manager, and I developed an extensive data-driven analytics platform to quantify the fundamentals and technicals, and I prepared a blog to share some views on the markets. A few weeks ago, I posted that I thought the S&P was finding its new range, and the upper end of that range was tested again yesterday (and rejected today on the Trump comments). I think the drop in early October was simply a healthy correction of an over-valued market that had been ignoring tightening financial conditions and seemingly still pricing itself to somehow maintain the same pace of tax-fueled earnings growth. Where we stand, I think the index is pretty fairly valued within the establishing range (b/w 2630 and 2815 or so).
If you'd like to take a look at my analysis in more detail, please check out the original post at: https://www.ganalysis.com/sp-500-some-perspective/
Anyone have any thoughts?