"This Trading Environment Is Hard To Describe": Top Goldman Trader Lays Out 5 The Reasons Why Stocks Can Crash... And 5 Why They Can Keep Surging

By Tony Pasquariello, Goldman head of hedge fund coverage

It’s difficult to capture the market narrative of this week in a single line. There were moments of intense pressure (notably in the wake of a tricky CPI report) interspersed with some high velocity rallies (particularly in the less well-held exposures).

In the end, S&P consolidated a touch lower on heavy volumes and an uneven data set (but failed to close up 15 out of 16 weeks).