Correction Likely Nearing End as Bulls See Expansion Continuing Despite Rate Fears

At peaks of uptrends, good news is embraced and bad news ignored. At troughs, bad news dominates and good news ignored. Bears convinced last bear market continues.

History suggests bear market ended in June when S&P 500 gained 20% from Oct low. Went on to gain another 6.8% before pullback, which is better than avg after exiting bear.

Discussion of bull or bear market is about semantics and sentiment. Bears trying to convince this is still a bear market. Bulls say it's just a correction in a bull market.

Past 80 years show market performs well on average after exiting bear market. Economic expansion looks set to continue, disinflationary trend intact.

This is a correction that should be over soon. Bull market far from over as valuations adjust to rates. Comprehensive top-down strategy helps shift asset allocation between offense/defense.