Similar, if not identical, to a story running on (hard to link) Bloomberg
“ less than 20 months after it began, the bear market that has engulfed the S&P 500 is a mere 260 points from being completely erased. Rather than predicting problems, chart patterns that track everything from multi-asset momentum to carriers paint a picture of booming economic activity. “”Nearly $10 trillion has been returned to stock values in the past nine months as job growth, consumer spending and corporate earnings defied the pessimists. The S&P 500 is up 27% from its October low and is now about 5% away from regaining the all-time high of 4,796.56 it reached in January 2022.”https://smaartcompany.com/stock-markets-are-about-to-emerge-from-the-bear-market-on-a-10-trillion-rally/
Comments
https://fortune.com/2023/07/22/is-bear-market-over-stocks-sp-500-recession-economy/#
Many investors are expecting a recession in 2023 due to the inverted yield curve as the indicator. Situation is different today after the pandemic than the previous cycles. Mid-2023 was forecast earlier, but the economy is moving along. This is an unusual year for sure.