Investors find themselves paralyzed by uncertainty given mixed messages from prominent market experts and talking heads, some professing the sorry and deteriorating state of the global economy, and others cheerleading the continued improvement in the fundamentals, particularly here in the U.S. Indeed, the nearly identical chart of the S&P 500 in 2015 compared to 2011 gave hope to a similarly solid start to 2016 as we saw in 2012, but instead we have seen the worst start to a New Year in history. Read more about Sector Detector: Bulls try to find a backbone in the face of fear and loathing

The S&P 500 large caps closed 2015 essentially flat on a total return basis, while the NASDAQ 100 showed a little better performance at +8.3% and the Russell 2000 small caps fell -5.9%. Overall, stocks disappointed even in the face of modest expectations, especially the small caps as market leadership was mostly limited to a handful of large and mega-cap darlings. Notably, the full year chart for the S&P 500 looks very much like 2011. Read more about Sector Detector: New Year brings new hope after bulls lose traction to close 2015