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Bear narrative has another problem. S&P 500 two consecutive quarterly gains always happen at start of new bull market. 5 reasons gains continue in April.

Increasingly looks like "bears are trapped" praying for new lows

The first quarter of 2023 (1Q23) is coming to a close Friday (one trading day left) and despite a wrenching banking crisis, the S&P is up +5.5% and up +2.3% for the month of March. Many skeptics (anecdotally, the majority of our clients) are likely sniffing at these gains, as mere noise until the bear market re-asserts itself. But for reasons outlined below, we believe 1Q23 gains now solidifies that "bears are now trapped" -- ...

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