"Going by the conventional Wall Street definition, the S&P 500 will remain in a bear market unless and until the index recovers to the February high."
That's complete bullshit and an attempt to move the goal posts.
cnbc.com/2020/05/22/bea…
That's complete bullshit and an attempt to move the goal posts.
cnbc.com/2020/05/22/bea…
We are out of the bear market, by conventional wisdom. It was one of, if not, the shortest in history. A bear market occurs once prices fall 20% from it's highs and ends once prices recover 20% from it's lows.
the S&P500 hit a high in FEB, 2020 of 3,386.15
the S&P500 hit a high in FEB, 2020 of 3,386.15
By March 23rd it had fallen 34% into a bear market with a low of 2,237.40.
As of Friday it is trading at 2955.45 or about 35% off it's lows.
In other words, we have been out of the bear market for a while now.
As of Friday it is trading at 2955.45 or about 35% off it's lows.
In other words, we have been out of the bear market for a while now.
From the linked article
"Nearly 70% of the participants in Bank of America’s monthly global fund manager survey called the recent rebound a bear market rally."
Another way to say that is that the herd still thinks we are in a bear market.
"Nearly 70% of the participants in Bank of America’s monthly global fund manager survey called the recent rebound a bear market rally."
Another way to say that is that the herd still thinks we are in a bear market.
Most often you make money in the market by NOT FOLLOWING the herd.
~30% are treating this as a new bull market. If history is any gauge(which sometimes it's not when it comes to the market) that 30% will do very well in the coming months once the other 70% figure it out.
~30% are treating this as a new bull market. If history is any gauge(which sometimes it's not when it comes to the market) that 30% will do very well in the coming months once the other 70% figure it out.
If the damage to the economy is worse than thought or sticks around for longer than expected, we may enter into another bear market but as of now we are technically out of the one formed in Feb-March, 2020.
Those that bought in March have had a hell of a bull market run.
Those that bought in March have had a hell of a bull market run.
If you would rather take a middle of the road approach to the market, you could say we are in a "correction range" off about 15% from the all time highs and about 35% from the recent lows. Trading in a correction range until people figure out just what the hell is going on.
