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Bear market might linger until 2020
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The market has had a huge rally the past 3 months, and many analysts and money managers want to know if a bull market is just around the corner. Danielle Park of Venable Park Investment Counsel was on Fast Money on Thursday, June 25th and provides a grim outlook for the market. She believes the bear market began in 2000 and could last until 2020.
This secular bear market that she is calling for is a long-term trend, but there is some good news for investors. She also thinks a cyclical bull market will occur during this period, and it might not be far off.
She believes a retest of the lows is still possible, and is skeptical about the recent surge in the market. She is also worried that there hasn't been a follow through and the market is up against resistance. She is referring to the resistance at 945 on the S&P, which if it breaks could lead to another enormous rally. Since prices tagged this area a few weeks ago, the market has drifted sideways and then lower.
To add further skepticism, the Summer months tend to be terrible for gains in the market. Right now, she says to keep cash on the sidelines and start making a list of stocks that might be worth buying.
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