On May 22nd stocks hit a new all time high of 1687 on the S&P 500. For a while we drifted lower and then trading in a tight range of 1600 to 1650.
Next thing you know Bernanke is talking about a more robust economy and a speed up in the removal of QE. With that bond rates have soared and stock prices have plummeted.
Stocks got as low as 1560 today which is retesting the previous level of the all time highs (1565). Some think that's far enough and are bidding back up stocks today. Others think that more pain is on the way.
Who is right???
Please share your thoughts on the subject by picking an answer below.
1) Correction is over now and we start moving higher.
2) More correction on the way. And then bull market resumes.
3) Bull market is officially over. Now its time for an extended bear market (20%+ decline from the highs of 1687).
Select your answer now along with the rationale for this position. Share those thoughts in the comments section below.
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