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The S&P 500: A New Bull Market Is Born

May 22, 2023 12:10 PM ET1 Comment

Summary

  • The S&P 500 flirted with 4,200 resistance for a while, but above 4,200, a new bull market is born (20% plus gains off the low).
  • In addition to the constructive technical conditions, the fundamental backdrop is improving.
  • Inflation has dropped from its highs, the labor market remains strong, and the Fed's plan is actually working.
  • In addition, corporate results are robust, the resilience of corporate America is remarkable, and we could see a shift toward easier monetary policy as we advance.
  • The bear market likely ended last October, and future corrections should lead to compelling buying opportunities.
  • This idea was discussed in more depth with members of my private investing community, The Financial Prophet. Learn More »

Bull market, Financial and business concept

phive2015

The S&P 500/SPX (SP500) and stocks, in general, passed a crucial week and are heading into the final days of May, with the market around its highest level in nearly a year. Other critical market averages like the Nasdaq 100 are in

SPX

SPX (StockCharts.com)

Target rate probabilities

Target rate probabilities (CMEGroup.com)

Payrolls report

Payrolls report (Investing.com)

CPI inflation

CPI inflation (Tradingeconomics.com)

Market valuations

Market valuations (WSJ.com)

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This article was written by

Victor Dergunov profile picture
42.1K Followers
The #1 Service For Diversified Portfolio Profits

Hi, I'm Victor! It all goes back to looking at stock quotes in the old Wall St. Journal when I was a kid. What do these numbers mean, I thought? Fortunately, my uncle was a successful commodities trader on the NYMEX, and I got him to teach me how to invest. I bought my first actual stock in a company when I was 20, and the rest, as they say, is history. Over the years, some of my top investments include Apple, Tesla, Amazon, Netflix, Facebook, Google, Microsoft, Nike, JPMorgan, Bitcoin, and others.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOG, AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am long a diversified portfolio with hedges.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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