Volatility

One Step Forward and Two Steps Back

In the past week, stock markets have whipsawed between rallying and selling off with at least two days of 3%+ gains in the NASDAQ being followed up with selloffs of 4-5% the next day. The recent behavior of stock prices has felt like a night on the dance floor at the Broken Spoke (but not in a fun way) with the market performing a Texas Two-Step dance of “One Step Forward and Two Steps Back”.