Stocks: The Pain Will Resume

S&P expects that that once this short-term rally concludes, major indexes could fall back to test their recent lows

The stock market is in the midst of an oversold bounce that we think will quickly come to an end. We believe the current rally is a counter-trend move within the confines of an intermediate-term decline. Once this short-term rally concludes, we see the major stock market indexes at least falling back to test their recent lows.

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