SPX is down 7% from the February high. Are you referring to the February 2017 high? Looking from a yearly perspective, we've gone from a period of slow, stable

SPX is down 7% from the February high. Are you referring to the February 2017 high? Looking from a yearly perspective, we've gone from a period of slow, stable growth to a period of uncertainty and loss, with a doubling of volatility. I think it's just as reasonable to call this the beginning of something ugly, as it is to say it's a buying opportunity.