Highest Volatility in Years
These first four months of 2016 have been the most volatile since the onset of the dot-com blow up in 2000 with huge swings in both directions. April continued the trend selling sharply early and at the end of the month sandwiched around a nice mid-month rally. The net of the month and the year-to-date swings has been just a bit over 1% appreciation in the large-cap, S&P 500 and Dow Jones Industrial indices.
The increased volatility has not been particularly surprising as the lethargic, global economic recovery is being counterbalanced by worldwide central banks keeping the monetary spigots wide open, though with seemingly less effect: