From the desk of Matt Mondoux, CFA, CMT, CFP®
Downside volatility (and the Federal Reserve) once again reminded market participants to be mindful of the difficult recovery that exists ahead. U.S. Stock market saw it's worst drop on Thursday June 11th since March. Taking a step back, consider the 10-day market run-up from Memorial Day through June 8th, when, over 95% of the S&P 500 members were positive and the average stock return over that period was 17.55%. The downside that followed Monday illustrated that short-term speculative rallies can be unwound quickly and volatility is a two way street.