It’s been a wild ride in the second quarter, but it seems that the bull market is still intact, writes Petri Redelinghuys
The market has been wild over the past four months. A few months ago I wrote about the changing of the trend on the S&P 500 index. Coming into this year the market had pulled back nearly 20% from the high, just barely missing the mark — by one classification method at least — of being called a bear market.
January turned the tide, though, and until the end of April the S&P 500 was on a tear. During that time I thought there is a real chance of the market finding resistance and heading further down than it did in December, finally pushing the S&P 500 into a bear market.