Think fast! Are we in the middle of a bull or a bear market? As of the market close on Thursday, March 26, the market was up over 21 percent over its recent low. The technical definition of a bull market requires a 20 percent advance over the previous low. Thus, as of today, we have entered a bull market (stay tuned…) Also of note, the entire surge happened in just the last 13 days. That is the fastest bull market turnaround since 1938!
One last quick thought on the matter. If you follow Wall Street, it is likely you knew the market has had a productive two weeks. However, the news that we are up over 20% likely caught you by surprise. Funny how the media makes sure everyone knows when the market is down, but chooses to place their focus elsewhere when the news is good. I suppose it’s all about the ratings, and evidence must suggest negative news draws more viewers than positive news.