Are we in a Bear market rally or have we reached the bottom of this bear market already? This is a question that obviously can only be answered in hindsight, and although we have the temptation to think that a rebound of 16% from the mid June trough is the beginning of another bull market, if we examine the recent bear markets, such as the dot com ‘00, or the gfc ‘08, we can see that there were bear market rallies of 20% or more along the way. It may be difficult for this rallie to continue if the #fed keeps tightening and gdp growth shows signs of stagnation.
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Source: Bloomberg, Charlie Bilello.
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