Stocks Latest Rally Has Bears Calling It Just a Bounce
- Majority of S&P 500 big rallies occurred in bear markets: CFRA
- “Pre-bottom jumps” happened an average 216 days prior to low
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The stock market has been sending mixed signals as of late, prompting investors and traders to butt heads on whether a bottom is near.
On Wednesday, the S&P 500 posted its first back-to-back gain in almost two weeks, following a 2.76% jump, the best single-day rally in three weeks. But the reversal on Tuesday is probably not a sign of the start of a new bull market, according to Sam Stovall, chief investment strategist at CFRA Research.