Investors See Bullish Signals Under the Stock Market’s Surface

It’s been a rocky spell for stocks. Under the market’s surface, some investors see promising signs.

The S&P 500 has risen or fallen at least 1% in six of the past nine trading days as anxieties over the war in Ukraine, high inflation and the path of interest rates buffet the market. The benchmark U.S. stock index recently suffered its first correction, or decline of at least 10% from a recent high, since the beginning of the Covid-19 pandemic. It is now down 9.2% this year, including last week’s 1.3% fall.