It’s been a wild ride in the stock market this year:
The S&P 500 was up around 5% on the year through mid-February. It was more or less straight down from there.
By the end of the first week in April the market was down more than 15%, good enough for a drawdown of 18.9% from peak to trough.
Now stocks are up nearly 14% from the lows and down less than 4% on the year.
This is a classic puke and rally, which happ…