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Opinion
Barry Ritholtz

Is the Bull Market Over?

Maybe, but give markets the benefit of the doubt for now.
Does he look done to you?

Does he look done to you?

Photographer: Pablo Blazquez/Getty Images

Is the bull market, which started after the lows of early 2009, coming to an end? Let's have a look at some data, as well as the arguments pro and con, to see if we can find any insight. In particular, I want to look at the latest economic, corporate and market issues to see what we might learn.

First, the U.S. economy. As we have observed, it has been a long slog out of the depths of the financial crisis. Gross domestic product growth has never really taken off; wage growth is weak; and retail sales, except where cheap credit flows freely, have disappointed. Many people have little or negative equity in their homes. I have explained -- or if you prefer, rationalized -- that this is typical of other post-credit-crisis recoveries.