Many people saw the recent market selloff as the start of a Bear market, from the beginning I argued it was an external effect in this long Bull market.
So, whether 23-24 March marked The bottom or A bottom is irrelevant I believe.
The broad Question is whether the long-term factors that drove the US economic expansion that started after the 2008 financial crisis are still with us: low interest rates, technological innovation and the continuing shift to services.
That suggests that it may take much more than a 60-day lockdown to derail the US’ economic expansion.
If we find a way to get beyond the tragic external shock to the market, we will likely find that the underlying secular Bull market is still intact, that is not a matter of luck or money, is a matter of sentiment.
Have a healthy day, Keep the Faith!
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