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The 7.9% gain in for the S&P 500 in January snagged the headlines last week, especially after the 10.2% decline in December.  It was the best January since 1987, when the S&P 500 was up 13.2%.  After the strong January in 1987, the S&P was higher for six of the next seven months, peaking in…

The strong stock market gains a week ago set the stage for the market’s resilient performance last week. After the long weekend, stocks opened under pressure on Tuesday, which I had predicted based on the previous week’s excess bullishness. The S&P 500 was down almost 2% on Tuesday, but closed well above the lows. It continued to…