Slow-drip stock sell-off getting worse than past flash crashes

Andrew Adams lived through Brexit. He made it through the presidential election, and China’s devaluation, when violent selloffs in U.S. equities gave way to heroic recoveries. Going by the charts, he says, this episode looks the same. But going by his nerves it’s different.

“There’s less conviction that something is there to bail us out,” said Adams, a strategist for Raymond James & Associates in St. Petersburg, Florida. “This time, no one’s really expecting much out of the markets.”

While Adams is a long way from throwing in the towel, he’s not imagining things when it comes to subtle shifts in market behavior. One is the persistence of losses. Stocks in the S&P 500 have dropped in 18 of the 23 days since peaking in September, roughly twice the frequency of the last three corrections.

It’s been such a grind that one of the longest-term technical indicators, the 200-day moving average on the S&P 500, just fell for the first time in 2 1/2 years.

https://www.msn.com/en-us/money/markets/slow-drip-stock-sell-off-getting-worse-than-past-flash-crashes/ar-BBOPnK1?li=BBnbfcN