Market Call: Loop-The-Loop

Keep your seat belts on: There may be a few more loop-the-loops in the stock market's rollercoaster ride. Or at least wear a neck brace. It's been a wild ride recently. After peaking at a record high on March 28, the S&P 500 plunged below its 50-day moving average and rose last week closing just below this average (chart).

Geopolitical risks remain high, though perhaps a bit less so after Iran and Israel played a dangerous game of tit for tat two weeks ago. Israel and Hezbollah were still playing that game today.