How to Exit US Markets Amid ‘Terminal Lucidity’

Terminal lucidity. It’s the phrase used to describe a short period just before death when the terminally ill appear to recover. All too often it gives hope—irrational hope—to the soon-to-be bereaved. That’s what strategist Bill Blaine reckons happened in the US stock market this week. After a torrid few months, the S&P 500 is all but evens on the year, and that’s made many investors think that maybe everything’s going to be fine.