Here’s a radical idea — what if the bear market has already passed? Since we don’t know the future, we can never say for certain, but let’s consider some evidence.
The S&P 500 made its intra-day low Boxing Day. From there to this morning’s high, the index has gained nearly 10%.
People assume they’ll know the low when it happens, but markets don’t work that way. Or more specifically, people don’t work that way.
Fourth-quarter earnings season starts soon, and it should be a good one for Wall Street. If the market continues to rally, then the downdraft of late 2018 will look pretty silly.