The S&P 500 chart this year is starting to resemble the market’s evolution in 2015. Then, as now, the market had lost all its up-side momentum, and it was listlessly moving sideways into the summer. Then, in 2015, we had a mini-crash in response to a currency move in China, and it led eventually to the lows in January, 2016. We look at the similarities in the market’s price action in 2014-15 and 2016-17 for clues to what might happen next.
