Patrick Palfrey | Source | Vice President, Equity Strategist at Credit Suisse

The earnings season showed that we are not going into a recession right now. The results were nowhere near as spectacular as in the past quarters. But they were good enough to alleviate some of investors’ concerns.

The question investors will be asking is not necessarily what the impact is for the current quarter, but, 'if China continues to slow, what will the impact be for the rest of 2018 and 2019?'