New Bull Market? It’s Different This Time.

“It’s a ‘New Bull Market’!” Over the past few days, the call of a new bull market has plastered headlines and media commentary. To wit:

The S&P 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low, reached on October 12, 2022. That brings to end the bear market that began in January 2022.” – We’re In A New Bull Market, CNN

Or this:

“Despite the Fed hiking rates, shrinking their balance sheet, and inflation at 9%, much of the financial media and market gurus have determined that the bear market is over and a new bull market has started. As shown, as the market surged, so did the number of articles discussing a new bull market.”

New Bull Market

Here is the issue.