Have U.S. stocks really entered a new bull market?
That’s the claim of some experts following the S&P 500’s recent attainment of a 20% increase from its October 2022 interim low. We have some reservations.
There are a number of factors at play that are bearish for the stock market. Interest rates, Treasury sales, credit market stresses and an imminent recession.
In fact, we believe the S&P 500 has become increasingly risky over the last six months as the top technology stocks have bubbled up. Because of this, the portfolios of many investors are now unknowingly in the impact zone. And they will get absolutely drilled when the market resumes its next bear market leg down.
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