Flat is the new up for the large cap indexes such as the Dow and S&P500 this year. After soaring to new highs in January and falling swiftly in February, we’ve seen these indexes struggle to rally higher even though earnings reports during the first quarter have been good. It is a widely followed belief that the tax cuts and strong earnings reports were priced into this market in December and therefore we realized the rally already. The concern is that all the strength in these earnings reports will be the “high water mark” of earnings and thus we have peaked in the economy. Subscribe to read more!