Why Is the S&P 500's Next Big Target So Elusive?

The S&P 500 Index is in the midst of a tug-of-war. Companies are beating earnings per share estimates by significant margins and are set to deliver impressive 12% growth this reporting season. But the White House’s chaotic approach to policy and concerns about the future of the software industry are combining to dampen enthusiasm for many erstwhile hot growth stocks.

The outcome? The index has struggled to break through 7,000 since it made its first approach in October. More and more, its sideways shuffle is taking on the look of a coiled spring (or maybe it’s a ticking timebomb). In the near future, expect more volatility of the variety that investors experienced this week as this tension tries to resolve itself.