Market Commentary – May 9, 2019


After a robust rally to begin the year, stocks are now in the midst of their most significant pullback of 2019.

Continued strength from leading groups (like Semiconductors) and evidence of a quick shift in investor sentiment would be consistent with a consolidation that is limited in degree and duration.

Further deterioration in sector-level trends and other breadth indicators coupled with persistent optimism would raise the risk of a more meaningful correction.