Momentum is the most powerful force in markets. And right now, stocks are taking it on the chin.
Plenty of people have been calling for a selloff in US equities for well over a year now, and see the latest pullback as the start of a bigger downtrend. Whether or not that proves true, we’ll see.
But even leading up to their peak a few weeks ago, major US equity benchmarks – like the Nasdaq 100 (NDX) – exhibiting the kind of crazy exuberance that usually marks the top of a long-term bull market.
For exam
