17 Jun

Market Extra: Based on history, the next bull market is just months away and could take the S&P; 500 to 6000, says BofA

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MarketWatch
By Barbara Kollmeyer

When it comes to bear markets, investors can take comfort from history which suggests that where theres a beginning, theres always an end.

And according to Bank of America, investors have only got a few months left to endure the bear market that the S&P 500 SPX, -0.06% tumbled into on June 13, at the start of this week. And then will come the bull market.

As per history, points out chief investment strategist Michael Hartnett, the average peak-to-trough bear market decline is 37.3% and lasts 289 days. That would put the end to the pain on Oct. 19, 2022, which happens to mark the 35th anniversary of Black Monday, the name commonly given to the stock market crash of 1987, and the S&P 500 index will likely bottom at 3,000.

A popular definition of a bear market defines it as a 20% drop from a recent high. As of Thursday, the index was off 23.55% from its record close of 4796.56 hit Monday, Jan. 3, 2022.

And an end typically marks a beginning with Bank of America noting the average bull market lasts a much longer 64 months with a 198% return, so next bull sees the S&P 500 at 6,000 by Feb. 28, said Hartnett.

Continue read on marketwatch.com

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