S&P 500

Submitted by Lance Roberts via RealInvestmentAdvice.com,

Earnings: Everyone Gets A Trophy

The ongoing process of the “wussifcation of America” has now spread from Main Street to Wall Street.

When I was growing up, we played sports. Coaches yelled at us, when we got hurt we were told to “rub some dirt on it” and “walk it off.” When we won a game we were cheered by our parents and coaches, when we lost we were disappointed.

Guess what? We got over it.

From uber-doves to ultra-hawks in 3 weeks (and a few hundred Dow points), today's FedSpeak did not rescue stocks as everyone assumed it did as Dudley's Dud dropped risk...

"Sell In May" is working once again...

Smart investors have noted that the S&P 500 just staged a very dangerous looking move.

That move was when S&P 500’s 50-week moving average broke below its 100-week moving average. You can see this in the green circle below.

This move is called a “Death Cross” and for good reason. The last time it happened was in 2008, right before the entire market CRASHED.

The time before that was right before the Tech Bubble burst, crashing stocks.

After yesterday's algo-driven mad dash to close the S&P green both for the day and for the year following Fed minutes that came in shocking hawkish, the selling has continued overnight, led by the commodity complex as rate hike fears have pushed oil back down some 2% from yesterday's 7 month highs, which in turn has dragged global stocks lower to a six-week low, while pushing bond yields higher across developed nations as the market suddenly reprices the probability of a June/July rate hike.